The first half of 2018 in the Chinese market:14 million vehicles sold, growth rate of 5%

Geely Group sales jump, with NEVs doubling to 412,000 units

2018/08/27

Summary

Growth Rate of Chinese Automobile Sales

 In the first half of 2018 (January to July), 14.063 million new vehicles (based on ex-factory shipments, including exports; same for below) were sold in the Chinese market for a year-over-year (y/y) growth of 5.3%. The growth rate recovered from 4.3% in the first half of 2017.

  For vehicle sales by group, the SAIC Motor Group continued to increase its sales to a market share of 24.9%. Of the corporate groups through fifth place, all groups aside from the Changan Automobile Group in fourth place saw a healthy y/y growth. There was only a marginal difference in the number of vehicles sold by the Changan Automobile Group and the BAIC Group in fifth place, with both groups having a market share of 8.6%.

  While the growth rate of SUVs, which are popular in China, has declined, SUV sales volumes increased 9.7% to 4.965 million vehicles. Vehicle sales for basic passenger vehicles (sedans/hatchbacks), which have been trending downwards in recent years, saw a y/y growth of 5.5% to 5.694 million vehicles. Additionally, sales of commercial vehicles continued to rise, increasing 8.8% y/y to 2.285 million vehicles.

  While Chinese OEM passenger vehicle sales in the first half of 2018 grew 3.4% y/y to 5.075 million vehicles, their market share dropped to 43.1%. The Geely Group, which is experiencing strong sales of its own brand vehicles, saw its sales volumes jump from the 589,000 vehicles in the first half of 2017 to 833,000 vehicles, significantly increasing the gap between itself and the other groups in third place and below. Korean OEMs, which saw a decrease in sales volumes as a result of the deployment of the THAAD missile defense system in 2017, experienced a y/y growth of 28.2% to 552,000 vehicles, indicating a recovery but remaining at a level similar to that of the first half of 2011.

  313,000 EVs and 99,000 PHVs, for a total of 412,000 new energy vehicles (NEV) were sold in the first half of 2018. EV sales experienced a y/y growth of roughly 95.6%, and PHVs grew by 182.9%.

 


*The report for sales volume is based on MarkLines database.


Rerated Reports:

2018 China Market Forecast: 29.98 million units; automakers cautious (Mar. 2018)
The Chinese market in 2017: 3% increase to 28.879 million vehicles, SUVs exceed 10 million vehicles (Feb. 2018)