On the afternoon of March 11, 2021, the China Association of Automobile Manufacturers Information Conference will be held in Beijing. The press conference mainly informed the media about the economic operation of the automobile industry in February 2021.

From January to February 2021, China's economic operations continued the trend of stable recovery since the second quarter of last year. After the Spring Festival, the rate of resumption of investment projects and the rate of operation of construction companies were higher than in previous years. The purchasing manager index (PMI) of the manufacturing industry in February was above the line of prosperity for 12 consecutive months, indicating that the economy has maintained an expansion trend. In addition, the consumer market is generally active. From the perspective of demand indicators, retail catering consumption during the Spring Festival this year increased by 4.9% compared with the Spring Festival in 2019, indicating that consumer demand has been steadily recovering. In this context, the automobile industry has continued a good development trend. From the perspective of market conditions, due to the very low base in February 2020, the production and sales of various models have shown a substantial growth in the same month year-on-year. From the perspective of segmented models, among commercial vehicles, the production and sales of heavy-duty trucks surpassed that of light-duty trucks, and continued to set a new historical record for the month, continuing a good development trend. Compared with the cumulative historical data of 2019 and 2018, production and sales of passenger vehicles are still declining, indicating that market consumption continues to recover. Finally, it is worth mentioning that this month's new energy production and sales and exports continued to refresh the historical record of the month, and continued to maintain a relatively large scale in terms of quantity.

In February, the production and sales of automobiles were 1.503 million and 1.455 million, a decrease of 37.1% and 41.9% from the previous month, and a year-on-year increase of 4.2 times and 3.6 times respectively. There are two reasons for the sharp year-on-year increase in production and sales this month. One is that the production and sales base level was low due to the impact of the epidemic in February 2020, and the other is that the current market demand is still recovering.

From January to February, the production and sales of automobiles reached 3.890 million and 3.958 million, respectively, an increase of 88.9% and 76.2% year-on-year. Compared with the data in 2019, automobile production and sales increased slightly, 2.9% and 2.7% year-on-year; compared with the 2018 data, automobile production and sales fell 11.5% and 12.6% year-on-year.

In general, the automobile operation in February 2021 generally showed the following characteristics: 1. The year-on-year growth rate of automobile production and sales was extremely high. 2. Affected by the low base number, the production and sales of passenger vehicles increased significantly year-on-year. 3. The year-on-year growth rate of commercial vehicles was lower than that of passenger vehicles. 4. New energy vehicles continued to refresh the historical production and sales records of the month. 5. The cumulative market share of Chinese brand passenger vehicles has increased. 6. The market concentration of key enterprise groups is lower than that of the same period. 7. Automobile exports continue to refresh the historical record of the month

Looking forward to the future, my country’s economy will continue to recover steadily. This year’s government work report stated that GDP will increase by more than 6%, clarifying the policy orientation of stably increasing the consumption of automobiles and home appliances. At the same time, the “General Office of the Ministry of Commerce The issuance of the “Notice on the Work Guidelines for Promoting Auto Consumption in the Business Field and Some Local Experiences and Practices” will also have a positive effect on auto consumption. In response to industry hotspot issues, the Ministry of Industry and Information Technology is also organizing industry forces to jointly resolve the chip crisis and gradually alleviate the negative impact of "stuck neck" key technologies on the industry. From this, it is judged that the future automobile industry will maintain a steady and positive development trend.

However, we should also note that the recovery of my country’s economy is still facing some risks and challenges. The new crown pneumonia epidemic is still spreading globally, the world economic situation is severe and complex, and uncertainties and factors have increased; Restricted, insufficient investment growth potential, and more difficulties for small, medium and micro enterprises and individual industrial and commercial households, these factors will also affect the stable recovery of the auto market to a certain extent.

Article information source-cable network


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