Auto & Transportation

On September 10th, the China Association of Automobile Manufacturers released August automobile production and sales data. In the context of the overall decline in automobile production and sales, the new energy automobile market has become a bright spot. In August, production and sales continued to set new records and exceeded 300,000 vehicles for the first time. From January to August 2021, the penetration rate of new energy vehicles has also increased to a level of nearly 11%. The production and loading of lithium iron phosphate batteries and ternary batteries also showed a substantial increase. Among them, the output of lithium iron phosphate batteries in August increased by 268.2% year-on-year.

According to statistics from the China Automobile Association, in August, China's auto production and sales reached 1.725 million and 1.799 million, a year-on-year decrease of 18.7% and 17.8%. In the first eight months of this year, automobile production and sales were 16.166 million vehicles and 16.556 million vehicles, up 11.9% and 13.7% year-on-year, and the growth rate continued to fall in the first seven months.

According to the analysis of the China Automobile Association, due to the continued spread of the Malaysian epidemic, many chip companies have stopped production, further aggravating the shortage of domestic companies' chips. Coupled with the high base in the same period, the year-on-year decline in passenger car sales in August has expanded compared with the previous month. .

However, sales of new energy vehicles in China are still booming. In August, production and sales continued to increase month-on-month and year-on-year. Production and sales exceeded 300,000 vehicles for the first time, setting a new record high, reaching 309,000 and 321,000 respectively, representing a month-on-month increase of 8.8% and 18.6%, and a year-on-year increase of 180%. Among the main types of new energy vehicles, the production and sales of pure electric vehicles were 252,000 and 265,000 respectively, an increase of 190% year-on-year; the production and sales of plug-in hybrid vehicles were both completed 56,000, an increase of 140% and 170% respectively. .

The prosperous new energy vehicle market is also reflected in the growth of power battery production and loading. In August, China's power battery output totaled 19.5GWh, a year-on-year increase of 161.7% and a month-on-month increase of 12.3%. Among them, the output of ternary battery was 8.4GWh, accounting for 42.9% of total output, an increase of 91.5% year-on-year, and an increase of 4.8% month-on-month; the output of lithium iron phosphate batteries was 11.1GWh, accounting for 56.9% of total output, an increase of 268.2% year-on-year, and an increase of 18.8% month-on-month. In terms of vehicle loading, ternary batteries installed a total of 5.3GWh, an increase of 51.9% year-on-year and a decrease of 2.1% month-on-month; lithium iron phosphate batteries totaled 7.2GWh, an increase of 361.8% year-on-year, and a month-on-month increase of 24.4%.