Automobile Market Slight Growth This Year with Limited Good News

The first two months sales are good, but without much good news for automobile market, its growth is under pressure.

On 10 March, as China Automobile Industry Association statistics, Chinese automobile production and sales have remained 2 figures growth at the first 2 months of this year. Manufacture is 3.69 million, which has increased 11.38% over the performance of last year. Sales are 3.76 million, which has increased 10.73% over last year. Compared with year 2013, growth from Jan to Feb has slightly increased, but still higher than earlier year 2012 and 2011. DONG Yang, executive vice director and general-secretary believe that two figures growth in the first two month this year of production and sales means that automobile industry has enter stable growth phrase.

Because of the Spring Festival holiday, production and sales figures have declined this Feb. Feb production is 1.64 million and sales of Feb is 1.60 million. Both of them has large degree declined over market performance of last month, but still more than last year did. Among them, passenger car production is 1.34 million, sales is 1.31 million, which has increased 21.2% and 18% over market performance of last year. For specific modes, SUV and MPV growth is relative fast, which become the main power to boost passenger car sales, which with slightly growth of other passenger car.

In Feb, local passenger car brands sales is 503.7 thousands, which has declined 29% over last month. The figure takes 38.4% of entire passenger car segment sales. Market share is almost equal to last month figure, but still has declined 4.6% over last year. Chinese passenger car brands have declined for successive 6 months. Jan to Feb, Chinese passenger car brands have sold 1.21 million, which has declined 1% over last year. However, passenger car segment has increased 10%. The figure takes 38.4% of the passenger car segment sales, which has declined 4.8% over last year.