The China Association of Automobile Manufacturers recently released data on automobile production and sales for March. The data shows that in March, China's automobile production and sales completed 2.462 million and 2.526 million respectively, an increase of 63.9% and 73.6% month-on-month, and an increase of 71.6% and 74.9% year-on-year.

Sales in the domestic auto market are strong, and new energy vehicles have become one of the growth engines. In March, the production and sales of new energy vehicles completed 216,000 and 226,000, respectively, an increase of 2.5 times and 2.4 times year-on-year, and continued to set new production and sales records. Another obvious feature is that, among the main types of new energy vehicles, the production and sales of pure electric vehicles and plug-in hybrid vehicles have shown rapid growth month-on-month and year-on-year.

Xu Haidong, deputy chief engineer of the China Association of Automobile Manufacturers, analyzed that with the joint efforts of domestic and foreign automakers, the quality of new energy vehicles has been improved to meet consumer demand for vehicles. Therefore, the China Automobile Association is still optimistic about the annual sales performance of new energy vehicles.

The production and sales of domestic new energy car companies have grown rapidly. BYD's production and sales bulletin shows that a total of 55,619 new energy vehicles were produced from January to March, a year-on-year increase of 149.22%. Weilai Automobile delivered 7,257 new cars in March, a year-on-year increase of 373.4%; from January to March, a total of 2,060 new cars were delivered, a year-on-year increase of 422.7%.

Driven by market demand, my country's new energy vehicle basic materials, basic parts, motors, electronic controls, batteries and complete vehicles have all made significant breakthroughs in recent years. Relevant data show that there are currently more than 228,000 new energy vehicle-related companies in China.

At the same time, high-end models of domestic brands are gradually making efforts to compete with international brands.

At present, the number of new energy vehicles in my country has begun to take shape. According to statistics, as of March 2021, the number of new energy vehicles nationwide has reached 5.51 million. Among them, there are 4.49 million pure electric vehicles, accounting for 81.53% of the total number of new energy vehicles. In the first quarter of this year, new registrations of new energy vehicles accounted for 6.21% of new registrations of vehicles.

Xu Haidong said that the annual sales target of 1.8 million vehicles mentioned by the China Automobile Association at the beginning of the year remains unchanged.

At the same time, the China Automobile Association reminded that the production and sales data of passenger cars in March was down compared with the same period in 2019, which may be related to the problem of chip supply. Xu Haidong said that the China Automobile Association had predicted that the tight supply of chips would improve in the second half of the year, but the current judgment has to wait until the fourth quarter. "Chip influence superimposed on the auto market in the second quarter of last year began to pick up rapidly, and the monthly sales growth rate in the second quarter of this year will be affected to a certain extent."

Article information source-Economic Daily




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