Sales in China drop to 1.5% in first half of 2015

CAAM revises 2015 growth forecast down from 7% to 3%

2015/08/14

Summary
Growth in China slumps to 1.5% in first half
Changan Automobile jumps to third place, surpassing FAW Group
SUVs increase market share further
Sales of Chinese own-brand and Japanese brand expand
Unit sales of new energy vehicles more than triple
Sales volume by major Chinese automotive group

Summary

中国自動車販売・Vehicle sales in China for the 2015 first half (January to June) increased by 1.5% year-over-year (y/y) to 11.85 million units (on a factory shipment basis, including exports).

・ In July 2015, the China Association of Automobile Manufacturers (CAAM) revised down its vehicle sales forecasts in China for the full-year 2015 from 7% (25.1 million units) at the beginning of the year to 3% (24.2 million units).

・ In the rankings of Chinese automotive groups by sales volume, China FAW Group Corporation, which had been ranked third, dropped to fourth, overtaken by Changan Automobile (Group) Co., Ltd.* As for market share by vehicle type, sport utility vehicles (SUVs) keep growing in popularity. Sales of SUVs posted a 46% increase y/y.

・ As for market share by Chinese and foreign brand, Chinese own brand held a top share of 41.5% of the Chinese passenger car market. German brand ranked second, with a market share of 19.7%. The German brand share, however, decreased1.7% y/y, and sales volume of German brand vehicles decreased by 3.4% y/y.

・ Sales volume of new energy vehicles in China for January through June 2015 rose to 3.4 times that for the corresponding period of last year, owing to the limitation on the issuance of license plates for conventional vehicles in large cities and tax exemptions for new energy vehicles.

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