Chen Shihua, deputy secretary-general of the China Automobile Association, said that at present, the growth rate of the wholesale end of China's automobile industry is slowing down, the growth of the domestic terminal market is weak, the overall pressure on the automobile market is obvious, and the release of consumption potential is not as expected. Among them, the production and sales of passenger cars fell by more than 7% month-on-month, and there was also a certain decline year-on-year; commercial vehicles continued to hover at a low level, showing a double-digit decline year-on-year.
"China's auto industry is in a critical window period of transformation and upgrading, and the stability and health of the consumer market is crucial to promoting the high-quality development of the industry." Chen Shihua suggested that the traditional preferential policies for the purchase of fuel vehicles in 2023 and relevant local policies to promote consumption can be continued, and the potential of automobile consumption can be further explored and further released to drive the development of the industry.
According to the latest data from the China Automobile Association, in November 2022, China's new energy vehicle production and sales completed 768000 and 786000 vehicles respectively, an increase of 65.6 and 72.3 respectively, with a market share of 33.8. From January to November, the production and sales of new energy vehicles were 6.253 million and 6.067 million respectively, with a year-on-year growth of more than 100 per cent and a market share of 25 per cent.
Specifically, from January to November, the sales of the top ten enterprise groups in China's new energy vehicle sales totaled 4.999 million vehicles, an increase of more than 120 percent over the same period last year, accounting for 82.4 percent of the total sales of new energy vehicles, 5.8 percentage points higher than the same period last year.
Less than a month before the end of 2022, the China Automobile Association predicts that the total sales of cars in China will be 26.8 million in 2022, an increase of 2% year-on-year. Among them, 23.5 million passenger cars were sold, up 9.4 per cent year-on-year; 3.3 million commercial vehicles, down 35.3 per cent year-on-year; and 6.7 million new energy vehicles, up 90.3 per cent year-on-year.
The China Automobile Association predicts that in 2023, China's total car sales will be 27.6 million, an increase of 3 per cent over the same period last year, including 23.8 million passenger cars, an increase of 1.3 per cent over the same period last year, and 3.8 million commercial vehicles, an increase of 15 per cent over the same period last year. The China Automobile Association stated that factors such as consumer confidence and chip supply will affect the Chinese auto market next year to a certain extent.
Xu Haidong, deputy chief engineer of the China Automobile Association, predicts that China's new energy vehicle sales are expected to reach 9 million in 2023, a year-on-year increase of 35%. Xu Haidong believes that from the perspective of long-term development, the current Chinese auto market is still in the stage of transition to the late stage of popularization, and new car sales have gradually shifted from the incremental market to the stock market. The production and sales of China's auto industry are currently at the end of a short-term adjustment and will maintain a moderate growth trend in the future.
