Sudden drop! Can't cars be sold in April?
On May 10, the National Passenger Vehicle Market Information Association (hereinafter referred to as the “Passenger Federation”) released data.
Cui Dongshu: Passenger car retail experienced a cyclical month-on-month decline in April
The passenger car market's retail performance in the first quarter of 2024 was strong, mainly due to base factors. Growth was weak in April, and there is still potential for a return to better growth in the future.
In April, sales volume was 2.36 million vehicles, and nearly 60% of A/H listed car companies declined month-on-month, and their own brands anchored overseas markets
① “Passenger car retail sales showed a cyclical month-on-month downward trend in April due to factors such as price instability. The new vehicle price war for new energy vehicles has brought about a certain increase, but it is not very sustainable and there is serious internal segmentation.” Cui Dongshu, Secretary General of the Passenger Federation, said in an analysis. ② Judging from SAIC Motor Group and GAC's “double decline”, the poor sales volume of fuel vehicles under the joint venture brand is the main reason for their current situation.
Express News | China Automobile Association: Sales volume of new energy vehicles in April 2024 was 850,000 units, up 33.5% year on year
Express News | China Automobile Association: Domestic passenger car sales in April were 1.572 million units, down 13.2% from month to month, up 5.1% year on year
Express News | China Automobile Association: Automobile sales volume in April 2024 was 2.359 million units, up 9.3% year on year
Express News | It is expected to exceed 4.6 million units, and the market share of Chinese brands for passenger cars is expected to reach 60%
Xiaomi won the April car market traffic
The discount rate in the automobile market has reached a new high, yet inventory pressure has not decreased.
China NEV Retail Falls to 674,000 in Apr, Penetration Reaches Record 43.7%
The NEV segment fared better than the overall automotive market, while PHEVs outperformed BEVs.
Express News | Passenger Federation: The implementation of the trade-in policy is a major benefit to the car market. It is expected that the retail sales of the car market in May will be better than in April
Express News | Biden was revealed to announce new tariffs on China's electric vehicles and the like as soon as next week. China: The US side made mistakes and mistakes
Express News | Passenger Federation: The release of the implementation rules for automobile trade-in subsidies is a major benefit. It is expected to increase annual consumption by more than 100 billion yuan
Express News | Passenger Federation: In April, retail sales in the national passenger car market fell 5.7% year on year; retail sales in the new energy vehicle market increased 28.3% year on year
Express News | Ministry of Commerce: The car trade-in subsidy policy can be enjoyed in combination with other benefits
Express News | The Ministry of Commerce introduced the relevant situation of the “Automobile Trade-in Subsidies Implementation Rules”
BMW CEO warns that the EU's imposition of tariffs on Chinese electric vehicles is to “take a stone and hit yourself in the foot”
① Under von der Leyen's strong impetus, the EU will decide whether to impose additional tariffs on Chinese electric vehicles during the year; ② The BMW CEO warned that implementing the tariff policy could be counterproductive and endanger Europe's green transformation.
Express News | Raymond claims the US could take “extreme measures” to ban Chinese connected cars from entering the US
Mood Toward NEV Stocks Brightens
Listed Chinese new energy vehicle makers can look forward to their stocks performing well in capital market on the back of their robust production and sales numbers, which will be further boosted by the country's supportive policies, market insiders said.
Express News | Passenger Federation: According to preliminary statistics, the NEV market retailed 706,000 vehicles in April, an increase of 34% over the previous year
Great Wall Securities: NEV exports maintained steady growth in the first quarter, focusing on establishing production lines in Europe and other regions
After China's automobile exports surpassed Japan to become the world's number one in 2023, in the first quarter of 2024, China exported 1.32 million vehicles, an increase of 23.36% over the previous year, and maintained a strong growth trend.
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