China sales increase 22.4% y/y to 1.94 million vehicles in February [ China ]
On March 10, 2017, the China Association of Automobile Manufacturers (CAAM) announced vehicle production and sales results for February 2017.
Vehicle production in China totaled 2.16 million, a 33.8% increase on a year-over-year (y/y) basis, while sales reached 1.939 million, a 22.4% rise y/y. Year-to-date (YTD) production that includes January result was 4.529 million, up 11.1% y/y, while YTD sales reached 4.459 million, up 8.8% y/y.
Passenger car production was 1.847 million units, which marked a month-over-month (m/m) decrease of 10.8% and a y/y increase of 31.5%. Sales were 1.633 million, down 26.4% from January and up 18.3% y/y. Sales of small vehicles with 1.6 L or smaller engines increased 17.5% y/y to 1.157 million units, which accounted for 70.9% of all passenger vehicles sold.
In the commercial vehicle market, production totaled approximately 312,000 units, up 5.0% m/m and up 49% y/y. Sales reached approximately 307,000 vehicles, up 1.7% m/m and up 49.9% y/y. These increases were attributable to the booming truck market.
Production of new energy vehicles totaled 17,972 units, a 15.5% increase y/y, and sales of these vehicles totaled 17,596 units, a 30.3% rise y/y. By vehicle type, electric vehicle (EV) production was 15,327 units for a y/y rise of 32.3%, and EV sales totaled 13,919 units for y/y growth of 49.5%. Plug-in hybrid vehicle (PHV) production was 2,645 units for a y/y decrease of 33.5%, and PHV sales totaled 3,677 units for a y/y decline of 12.4%.
Vehicle exports in February totaled approximately 50,000 units, a 14.1% decrease from January. Monthly exports maintained y/y growth for a gain of 42.8%. YTD exports reached 108,000 units, up 36.3% y/y. By vehicle type, approximately 78,000 passenger vehicles were exported, which was an increase of 55.2% y/y, and approximately 30,000 commercial vehicles were exported, a rise of 3.4% y/y.
(CAAM press release from March 10, 2017)