China's homegrown PV retail sales grow 25.6% YoY in Jan. 2021

Shanghai (Gasgoo)- In Jan. 2021, around 2.18 million locally-produced PVs (referring to cars, MPVs, SUVs and minibuses) were handed over to consumers in China, representing a year-on-year growth of 25.6%, according to the China Passenger Car Association (CPCA).

For the sake of pandemic prevention and control, many places called on people to stay where they work and live during the Spring Festival Holiday, which falls in mid-February this year, to reduce personnel flow. Since part of car shopping demands comes from migrant works returning to rural areas, the nosedive in returnee volume will slow the sales growth down for the beginning of 2021, said the CPCA.

However, the demands of premium cars were raised in such first-tier cities as Beijing and Shanghai by the governmental incentives.

The CPCA's data show that the retail sales of luxury vehicles in January surged 44% year on year and jumped 21% month on month.

Compared to the previous month, FAW-VW was still the No.1 automaker by Jan. retail sales of locally-produced PVs. SAIC VW moved up one spot to the runner-up place, while SAIC-GM correspondingly dropped to the No. 3. Changan Auto and GAC Toyota once again entered the top 10 list, ranking fourth and tenth respectively.

As for wholesale performance, automakers in China sold around 2.04 million homegrown PVs in January, a remarkable year-on-year growth of 26.1%.

Except the minibus, the car, the MPV and the SUV segments all boasted double-digit year-on-year increase.

The CPCA said the wholesales of China-made new energy vehicles (NEVs) amounted to roughly 168,000 units last month, rocketing 290.6% from the previous year, while falling 20.5% from the previous month. Of those, the sales of plug-in hybrid vehicles and all-electric vehicles reached 27,000 units (+173% YoY) and 141,000 units (+325.8% YoY).

Among the top 10 automakers by Jan. PV wholesales, FAW-VW and SAIC VW moved up one and two spots respectively to occupy the first two places compared to Dec. 2020. Changan Auto (4^th), Geely Auto (5^th), Dongfeng Nissan (6^th) and GAC Toyota (10^th) had their ranking remain unchanged over the previous month.