Self-Owned Brands Overfulfilled Annual Sales Targets in 2016; Average Growing Rate of the Ten Mainstream Automakers Surpassed 50%

SHANGHAI January 16th, 2017 Gasgoo–Chinese car market grew obviously in 2016, with an expectation annual sales of 27.95 million units and a year-on-year increase of 13.8%, which will far exceed the expected 6% overall growing rate at the beginning of last year.Self-owned automakers also made good performances. According to data from the automakers, sales of Changan passenger cars, the Great Wall and Geely reached 1.28, 1.074 million and 766 thousand units respectively in 2016, topped the first three.

Meanwhile, according to Securities Daily, China’s top 10 mainstream automakers all over-fulfilled their annual sales targets in 2016 with an average growing rate of 50%. The GAC Trumpchi, SAIC passenger cars and BAIC Slogan had the highest growing rate, respectively are 97%, 88% and 87%.

Despite of the growth of 2016, self-owned automakers still have an optimistic prospective on this year’s market outlook and up-regulated their sales targets with different levels. Sales target of GAC passenger cars rise from 370 thousand units last year to 500 thousand units, an increase of 35.1%.

Li Chunrong, general manager of Dongfeng Aeolus once mentioned that, Dongfeng Aeolus’ 2017 sales should be 200 thousand units and is targeting to be a main force of the market.

Sales of Changan and the Great Wall broke one million units

In 2016, Changan Motor was still of the self-owned brands’ sales first. Data from Changan showed that, overall sales number of Changan passenger cars in 2016 was 1.284 million units, 27.6% increased year over year. And Xu Liuping, chairman of Changan Motor, expected sales of Changan would be 3.1 million units in 2017, with sales revenue breaking 300 billion yuan.

In 2016, the Great Wall became the second self-owned brand to have sales surpassed one million. Sales target of the Great Wall in 2017 would be 1.25 million units.

Sales of Geely in 2016 has reached 765.9 thousand units and rose 49% comparing with the previous year. Geely has announced that, it aims to have sales reach one million units in 2017, a growth of 31% compared with that of 2016.

Jin Ge, general manager assistant of Chery revealed that, sales of Chery in 2016 will break 700 thousand units. Chery announced to insure its sales reaching 900 thousand units in 2017 and struggle to be one million units.

The Growing Rate of Auto Market Sales in 2017 Would be 6.5%

Since the policy to halve auto purchase taxes ended and pressure from transportation and environment increased, the domestic auto market will be hard to develop in 2017. According to expectations of several institutions, the growing rate of auto market sales would be 2%-6.5%.

There are 5 days less in 2017’s Spring Festival than that of 2016, which will have an effect of about 20% sales growth.