July 2022 sales update of main Chinese automobile groups

China's auto sales maintained its rising impetus in July greatly thanks to the growing passenger vehicle demands and strong policies stimulus.

Last month, the world's largest auto market saw its sales reach around 2.42 million units, edging down 3.3% from the previous month, while jumping 29.7% year on year to the same-month highest level in history, according to the CAAM's data.

For the first seven months of 2022, China's auto sales amounted to 14.477 million units, ticking down 2% from the previous year, but the year-to-date new energy vehicle ("NEV') sales still surged around 120% year on year, the industrial data showed.

The general upward movement in the country's July auto sales indicated that main automobile groups in China also scored a year-on-year growth.

Gasgoo hereby displayed the sales data released by nine main Chinese automobile groups, and found out that all of them achieved a two-digit jump from the year-ago period in July sales.

The year-on-year growth in the monthly sales of SAIC Motor, the largest auto group in China, still stood above 40% in July. Thanks to the vigorous increase achieved in June and July, the Shanghai-based auto giant saw the year-over-year change in its year-to-date sales turn positive from negative.

BYD was still the fastest-growing one in terms of July sales. Notably, the automaker with only NEVs for sale recorded a three-digit year-on-year growth in monthly sales through the first seven months of this year.

Chery Holding boasted a year-on-year leap of 57.7% with more than 130,000 vehicles sold last month.

As for the year-to-date performance, BYD outstripped others with a three-digit spike of 166.01% year-over-year. Besides, SAIC Motor, GAC Group, and Chery Holding also faced a rising impetus in their Jan.-Jul. sales.

Nevertheless, other automobile groups have not seen their year-to-date sales exceed that of the prior-year period.

In the NEV sector, the nine automobile groups all attained a precipitous rise over a year ago in July. Of them, Geely Automobile recorded the biggest growth (354.2%), while both BYD and Chery Holding saw their respective NEV sales perk up at a rate of over 200%.

In addition, the growing overseas sales also significantly contributed to some automobile groups’ July sales. According to public data, SAIC Motor, Geely Automobile, and Chery Holding announced their export and overseas sales volumes in July shot up over 85% compared to the same period a year ago. JAC Group's export volume rose 24.67% to 8,322 units last month.