From：Internet Info Agency 2019-06-28 16:38:14
According to the sales statistics released by the China Passenger Car Association (CPCA) and the China Association of Automobile Manufacturers (CAAM), the Chinese auto market experienced a double-digit decline in this May, and has declined for 12 consecutive months since last June.
However, according to the analysis of the terminal sales data compiled by some relevant agencies based on the traffic compulsory insurance, the performance of the Chinese auto market is not so bad. From January to May, the decline in passenger cars was lower than that from January to April.
And the wholesale volume of automobiles in May also continued to be lower than the sales volume of the terminals, indicating that the destocking of auto manufacturers has not decreased.
In addition, according to the results of the automobile dealer inventory survey released by the China Automobile Dealers Association (CADA）in April 2019, the comprehensive inventory coefficient for Chinese car dealers in April was 2.0, and it fell to 1.5 in May. In other words, the overall inventory of dealers has dropped from two months to one and a half months.
The above three points are all positive changes that are occurring in the Chinese auto market.
Terminal sales fell in single digits in the first five months
According to statistics from the CAAM, in May this year, China’s automobile sales (wholesale) was 1,912,600 units, down 16.40% year-on-year. Among them, the sales volume of Chinese passenger vehicles (wholesale) was 1.5612 million, a year-on-year decrease of 17.37%. In the first five months of this year, China's automobile sales (wholesale) was 1,912,600 units, a year-on-year decrease of 16.40%. Among them, passenger vehicle sales (wholesale) was 1.5612 million units, down 17.37% year-on-year.
However, according to the analysis of the terminal sales data based on the traffic compulsory insurance, China's car sales in May were 1.799 million units, down 3.9% year-on-year. Among them, the sales volume of passenger vehicles was 1.66 million, a year-on-year decrease of 3.1% , which were 12.5 percentage points lower and 14.37 percentage points lower than the wholesale volume datas released by the CAAM respectively.
According to statistics from the CAAM, from January to May this year, China’s automobile sales were 10.265 million units, down 12.95% year-on-year. Among them, passenger vehicles were sold 8,398,700 units, a year-on-year decrease of 15.17%.
According to the analysis of the terminal sales data based on the traffic compulsory insurance, China's automobile sales from January to May this year was 9,934,300 units, down 2.5% year-on-year, of which passenger vehicle sales were 8,220,100 units, down 4.9% year-on-year. From January to May, the decline in passenger vehicles was 0.4 percentage points lower than that from January to April. This terminal sales data was 10.45 percentage points lower and 10.27 percentage points lower than the wholesale volume data of the CAAM respectively.
The above data shows that the terminal sales of domestic and passenger cars in May and the first five months of this year fell by less than 5%.
Terminal sales in June are expected to be better than last month
According to the analysis of the terminal sales data based on the traffic compulsory insurance, although passenger vehicle sales in May decreased year-on-year, they increased by 12.5% compared with April, with 180,000 more units been sold.
In May, the sales volume at terminals of passenger vehicles achieved double-digit growth. One of the most important reasons is that the Nation-VI emission standards will be implemented on July 1, and the Nation-V standard cars will not be available to apply for license plate then. Many car brands are rushing to sell the Nation-V cars at a reduced price before the implementation of new standards.
At the time of the coming of July, car manufacturers are also eager to sell the Nation-V vehicles. It can be expected that the terminal sales of passenger vehicles in June will be better than that in May, and the monthly sales volume may exceed 2 million units.
Some analysts pointed out that with the implementation of the Nation-VI emission standards and the continued effectiveness of destocking, the impact of the unfavorable factors in the Chinese auto market will be weakened in the second half of the year, which is conducive to the sound development of the auto market.
