China Market H1 2020: Sales of New Vehicles Fall to 10.23 Million Units
Except for FAW and Changan, y/y sales decline, but market shares of German and Japanese OEMs grow
New motor vehicle sales in China in the first half of 2020 (January through June) fell by 16.9% compared to the same period in the previous year to 10.231 million units (based on factory deliveries, including exports; same basis throughout this report). February and March sales were especially hard-hit by the effects of the COVID-19 (new coronavirus) pandemic. From April onward, there was a recovery trend: sales each month grew by more than 200,000 units compared to the same month last year.
Among government-affiliated automotive OEM groups (hereafter Groups), SAIC Group continued in the top sales position since the second half of 2019 despite a year-over-year (y/y) drop in sales of 30.5%, suffering the largest decline among the top 10 Groups. China FAW Group and Changan Automobile Group with strong sales of their own-brand models increased their unit sales.
By vehicle category, passenger car sales for the period were 7.847 million units, showing a y/y decrease. On the other hand, sales of commercial vehicles centering on trucks and buses grew by 8.6% for the period y/y to 2.384 million units.
Passenger car sales of Chinese automakers in the first half of 2020 fell 28.0% y/y to 2.88 million units. However, the market share of German- and Japanese-affiliated OEMs grew. Sales of high-end Audi and Volvo brands increased for the period over the previous year.
The sales of NEVs (New Energy Vehicles) for the period decreased 37.4% y/y to 393,000 units. This can be broken down to 304,000 EVs (electric vehicles), 88,000 PHVs (plug-in hybrids), and 403 FCVs (fuel cell vehicles).
Major Chinese OEMs： Production and Sales Recovery in May-June 2020 (Jul. 2020)
Major Chinese OEMs: March & April 2020 recovery centered on commercial vehicle sales (May 2020)
COVID-19 Plant-impact update - China (Apr. 2020)
Jan-Feb 2020 New Vehicle Sales in China Fall 42%, SAIC Group Down by Half (Apr. 2020)
China production and sales fall in January 2020: Impacted by coronavirus and Lunar New Year holiday (Mar. 2020)