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China's auto market slump continued, Geely's first monthly negative growth

From:Internet Info Agency 2018-12-13 17:38:43

CPCA announced the total retail sales of domestic sedan, SUV and MVP in November. Not surprisingly, after a double-digit negative growth in September and October, it fell by 18.0% year-on-year in November. The total retail sales of domestic sedan, SUV and MVPd  was 2.02 million units. From January to November, the cumulative sales volume reached 20,152,000 units, down 4.0% year-on-year.

Judging from the top 15 car companies on the list, only FAW-Volkswagen, FAW Toyota, SAIC Motor, GAC Toyota and BYD have maintained positive growth in November. Surprisingly, GEELY AUTO, which has maintained rapid growth in recent years, had negative growth for the first time last month. CPCA announced its November retail sales of 138,559 units, down 1.1% year-on-year.

According to the official sales data released by GEELY AUTO on December 6, GEELY AUTO sold a total of 141,661 units in November, with a slight increase of 0.3%. There was a gap between the retail volume data published by CPCA and the data from GEELY. What is the cause of this statistical gap? In this regard, IIA asked Yang Xueliang, vice president of Geely Automobile Group, by telephone and text message, but GEELY did not reply before the deadline.Also as a mainstream independent brand, SAIC Passenger Cars and BYD AUTO still maintained positive growth (up 10.4%, 8.3%, respectively), in contrast to Geely.

GEELY AUTO has developed rapidly in recent years. It has also become the fastest growing sales volume from 2015 to 2017. The annual market growth rate is 26%, 50% and 63% respectively. In 2016, GEELY entered the top ten sales for the first time. . In 2017, GEELY's sales volume ranked sixth, and became the leader of its own brand; in the first month of 2018, it jumped to fourth place and has remained so far.At the beginning of this year, Geely Auto announced its own sales target of 1.58 million in 2018, which is expected to increase by 27%.

At the beginning of 2018, Geely Automobile still maintained a double-digit growth trend; until the second half of the year, sales growth began to shrink. From the double-digit growth in July, it slowed down month by month until it had negative growth last month. The sales growth from July to November announced by CPCA was: 30.7%, 30.2%, 14.3%, 2.6%. , -1.1%).

As of November, GEELY AUTO's cumulative sales reached 1,407,505 units, up 29% year-on-year. The completion rate for the full-year sales target was 89% (the sales in the previous November was 1,387,007 units, and the completion rate: 88%). To complete the full-year target, GEELY AUTO will complete at least nearly 180,000 units of sales in December, an increase of about 13% year-on-year (15,360 units in December 2017), which is difficult and worthy of attention.

Editor:Wang Jingya