Chinese market Q1 2021: NEV sales exceed 500,000 units, Chinese OEMs accelerate CASE
Jan-Mar production up 81.7% to 6.5 million units, sales up 75.6% to 6.8 million units
2021/05/20
- Summary
- Trends of Major Chinese Automakers (Q1 2021)
- Trends of non-Chinese global OEMs (Q1 2021)
- Major OEMs production and sales volumes (ex-plant) in the first quarter of 2021
Summary
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According to an April 9 release by the China Association of Automobile Manufacturers (CAAM), motor vehicle production in China in the January - March period of 2021 increased 81.7% over the same period of the previous year to 6,352,000 units, and sales increased 75.6% over the same period to 6,484,000 units. Of this total, production of New Energy Vehicles (NEVs) increased 3.2 times for the period year-over-year (y/y) to 533,000 units, and sales of NEVs increased 2.8 times y/y to 515,000 units.
In the single month of March 2021, production volume increased by 71.6% y/y to 2,462,000 units. Sales volume was up 74.9% in March y/y to 2,526,000 units, with both production and sales up significantly year-over-year. NEV production increased 2.5 times y/y for the month to 216,000 units and sales were up 2.4 times y/y to 226,000 units, marking a record high for March.
In the first quarter (January to March) of 2021, China's major vehicle manufacturers augmented their lineups in the NEV and connected car segments, with a particular focus on autonomous driving. Also noteworthy are the technology achievements related to batteries and hydrogen energy. European and U.S. manufacturers are making many moves related to the production of NEVs. As for Japanese and Korean OEMs, Toyota and Hyundai/Kia are focusing on NEVs, while Honda and Nissan are focusing on the connected sector.
Overall, Chinese manufacturers are actively and quickly responding to the four new transformational trends (electrification, intelligentization, networking, and sharing), while non-Chinese manufacturers tend to be a little behind in this area. In this report, the content reported in "China Emerging EV Manufacturers” (Parts 1 and 2) are omitted.
Related reports:
China Emerging EV Automakers (Part 2): NEV Alliance Matrix for 3 Mid-sized Automakers (Apr. 2021)
China Emerging EV Automakers (Part 1): Top 4 Partnering with Major Tech Companies (Mar. 2021)
2020 Chinese market: New vehicle sales down 1.8%, commercial vehicle sales top 5 million units (Feb. 2021)
China Market: Changan Group healthy, but a few midsized automakers insolvent (Dec. 2020)
The Impact of COVID-19 on the Automotive Industry (Nov. 2020)
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