Chinese market Q2 2021 (1) : Activities of China's state- and privately-owned OEMs
SAIC goes high-tech, FAW expands its production sites, Great Wall aims for 4 mil. units in 2025
According to an announcement by the China Association of Automobile Manufacturers (CAAM) on July 9, production volume in the January-June period of 2021 increased by 24.2% year-over-year (y/y) to 12,569,000 units, and sales volume increased by 25.6% y/y to 12,891,000 units. Of this total, production of new energy vehicles ("NEVs") doubled y/y to 1,215,000 units and sales doubled y/y to 1,206,000 units, with cumulative sales of NEVs in the first half of 2021 already equal to annual sales in 2019.
In terms of June 2021 monthly data, production volume decreased by 16.5% y/y to 1.943 million units. Sales volume declined 12.4% year-on-year to 2.015 million units. This was the third consecutive month of decline in both sales and production. Production of NEVs increased 1.3 times y/y to 248,000 units, a record high for a single month in June. In addition, sales of NEVs increased 1.4 times to 256,000 units, the highest monthly sales ever.
In the second quarter (April-June) of 2021, China's major automakers continued to accelerate their lineups in the areas of new energy and connected vehicles with technologies such as autonomous driving, intelligent cockpits, and drive batteries, reflecting a marked shift from traditional finished vehicle manufacturers to high-tech companies. The SAIC Group has declared that it will completely transform itself into a "user-oriented high-tech enterprise.” In 2025, SAIC also plans to manufacture all-solid-state batteries and models equipped with Level 4 intelligent drivetrain technology. Great Wall Motor Co., Ltd. (GWM) has announced its "2025 Strategy" to sell 4 million units globally by 2025, 80% of which will be new energy vehicles (NEVs). The Guangzhou Automobile Group Co., Ltd. (GAC) has announced many new energy and intelligent connected technologies. Also, Chery Automobile Co., Ltd. (Chery) has entered into strategic alliances with Horizon, iFLYTEK and others in the intelligent connected space. This report focuses on the activities in the second quarter (Q2) of 2021 of some of the major state-owned and privately-owned Chinese manufacturers of finished vehicles (OEMs). Please refer to the MarkLines report on the Shanghai Motor Show 2021 for the details of the announcements made at the Shanghai Motor Show in April, 2021.
Chinese market Q1 2021: NEV sales exceed 500,000 units, Chinese OEMs accelerate CASE (May 2021)
Auto Shanghai 2021: BAIC, Changan, GAC, Chery (May 2021)
Auto Shanghai 2021: SAIC, Dongfeng, FAW (May 2021)
Auto Shanghai 2021: Geely, Great Wall Motor, BYD (May 2021)
China Energy-saving Vehicle & NEV Roadmap 2.0: Curbing Carbon Emissions for a Green Society (Apr. 2021)
2020 Chinese market: New vehicle sales down 1.8%, commercial vehicle sales top 5 million units (Feb. 2021)