Summary: 2016 H1 sales target completion rates among major Chinese automotive manufacturers

Gasgoo.com (Shanghai) - Major automobile manufacturers in the Chinese market had set their sales target well in advance early their year. Now, with half of the year already past, only a minority of those manufacturers managed to achieve at least 50% of their respective sales targets. According to statistics compiled by Gasgoo.com (Chinese), only five manufacturers reported that they had achieved over half of their sales targets: GAC Group, Dongfeng Honda, JAC Motor, FAW Toyota and Geely.

Among the Western brand affiliated JVs, FAW-VW’s performance was the best. With total sales of just over 898,000 vehicles, FAW-VW has managed to complete 49.3% of its 2016 sales target so far. Fellow VW affiliated JV, Shanghai VW, managed to achieve 48.4% of its annual sales target. Thanks to the popularity of hot-selling models like the Lavida, Santana and Tiguan, the JV has succeeded in ranking number one in the number of automobiles sold in the first half of the year.

Sino-American JV Shanghai GM has sold 828,000 new vehicles over the first half of the year, representing year-on-year growth of 4.9%. That figure represents only 44.3% of its sales target for the year. Fellow US affiliated JV Changan Ford has seen its sales for the first half fall 1.4%, totaling 424,000. So far Changan Ford has only completed 42.4% of its 1 million sales target.

Dongfeng Peugeot Citroën also saw its sales decrease, falling a whole 18.8% year-on-year. Dongfeng Peugeot Citroën sold a total of 286,000 vehicles over the first half of the year, representing only 37.3% of its total sales target.

Korean linked JV Dongfeng Yueda Kia saw its sales fall 5.8% year-on-year to 286,000 vehicles sold over the first half of the year. That figure is equivalent to just 42.0% of its 680,000 sales target. Beijing Hyundai, meanwhile, is only 46.7% of the way to completing its 1.12 million sales target.

Sino-Japanese JVs Dongfeng Honda and FAW Toyota have both completed over half of their sales goals for the year. The two JVs also managed to post respectable year-on-year sales growth rates of 47.8% and 17.7% for the first half of the year. By comparison, FAW Toyota, Dongfeng Nissan and Guangqi Honda’s sales completion rates were only just over the 40% mark.

Three domestic own brand manufacturers have managed to complete over half of their sales targets this year: GAC, JAC and Geely.

GAC has benefited greatly from the highly popular Trumpchi SUV, enabling the own brand to achieve a sales growth rate in the triple digits. With 59.3% of it 280,000 sales goal already completed, GAC is the best performing own brand when it comes to sales target completion rates.

JAC and Geely, which have both achieved double digit sales growth rates, sold 188,000 units and 306,000 units, respectively.

Changan has sold a total of 409,000 vehicles over the first half of the year, equivalent to 49.3% of its 830,000 sales goal.