China imported PV sales drop 25.6% YoY in H1 2022

Shanghai (Gasgoo)- For the first half of 2022, there were 367,632 imported passenger vehicles (PVs) delivered across China, representing a 25.6% decrease year over year, according to Sinomach Automobile Co., Ltd., China's largest dealer of imported vehicles.

To be specific, the Jan.-Jun. deliveries of imported cars, SUVs, and MPVs dipped 28.7%, 24.1%, and 2.7% respectively from the previous year to 162,684 units, 189,806 units, and 15,142 units.

Lexus ES; photo credit: Lexus

Of the imported PVs delivered in the first two quarters of the year, 332,315 units were under luxury car brands, representing a 25.2% year-on-year downward movement. Luxury brands hereby consist of Alfa Romeo, Audi, BMW, Porsche, Mercedes Benz, Jaguar, Cadillac, Lexus, Land Rover, Maserati, MINI, Acura, smart, Tesla, Volvo, Infiniti, etc.

As for monthly performance, the deliveries of imported PVs in China dropped 18.4% from a year earlier to 71,755 units, including 30,739 cars (-25.8% YoY), 38,284 SUVs (-12.5% YoY), and 2,732 MPVs (-2.1% YoY).

Among the top 10 brands by June sales of imported PVs in China, there were four brands achieving a year-on-year growth, namely, Porsche, MINI, Volvo, and Subaru. Of them, Porsche was the fastest-growing one. Audi ranked 5th, but it was confronted with the biggest year-over-year decrease.

In terms of the Jan.-Jun. imported PV deliveries in China, Lexus and Mercedes-Benz were the top 2 brands. Despite the overall downturn, Toyota still saw its year-to-date imported PV sales rise 5.1% in China from a year earlier.