China Automobile Association: China's auto production and sales growth fell by over 50% in March

The "First Financial Daily" learned from the China Association of Automobile Manufacturers on April 10 that in the first quarter of this year, the year-on-year increase in the sales of various models has significantly decreased. Among them, the production and sales of passenger cars were 3.7523 million and 3.843 million, respectively, an increase of 8.37% over the same period last year. 9.07%, sharply lower than the 84.34% and 76.34% growth in the same period last year. From January to March, the production and sales of commercial vehicles were 1,143,400 and 1,113,800, respectively, which was a year-on-year increase of 4.66% and 4.86%, respectively. Compared with the increase of 57.14% and 58.50% in the same period of last year, it fell sharply.

Zhu Yiping, assistant secretary of the China Association of Automobile Manufacturers, believes that March was the most critical year of the year and was a record high in previous years. However, in March this year, production and sales did not hit new highs, the growth rate declined, and the monthly and quarterly increases also fell sharply. The overall situation is lower than the expectations of the China Automobile Association. The decline in the first quarter of the auto market was mainly due to the purchase tax preferential policies, the withdrawal of vehicles to the countryside and the trade-in policy, and the continuous rise in fuel prices.

The data of China Automobile Association also shows that the domestic auto market witnessed an overall decline in the first quarter, in which the market share of self-owned brand passenger cars declined. The latter sold a total of 1.7828 million vehicles, an increase of 2.76% year-on-year, accounting for 46.38% of the total passenger vehicle sales, and the market share dropped by 2.85 percentage points from the same period of last year.

Due to the withdrawal of favorable policies for small-displacement vehicles, from January to March this year, sales of passenger cars with 1.6 liters or less of passenger vehicles accounted for 70.03% of total passenger vehicles, a decrease of 0.49 percentage points from the same period of last year. China Automobile Association believes that the growth rate of passenger cars with 1.6 liters or less is not as good as that of other types of passenger cars, and the proportion of passenger cars is unavoidable.