Auto & Transportation

On October 12, 2021, China Association of Automobile Manufacturers (hereinafter referred to as "China Automobile Association") released the latest phase of production and sales data. The data shows that in September this year, the production and sales of automobiles were 2.077 million and 2.067 million, an increase of 20.4% and 14.9% respectively from the previous month; in addition, the production and sales of new energy vehicles reached a new high, with 353,000 and 357,000 vehicles completed respectively. , An increase of approximately 1.5 times year-on-year.

In September, a total of 1.767 million domestic passenger cars were produced, and the cumulative production from January to September reached 14.658 million. Among them, passenger car production in September increased by 18.1% month-on-month, down 13.9% year-on-year, and a cumulative increase of 10.7% year-on-year from January to September. In terms of sales, passenger car sales in September were 1.751 million units, an increase of 12.8% month-on-month. A year-on-year decrease of 16.5%.

A total of 353,000 domestic new energy vehicles were produced in September, an increase of 14.5% month-on-month and a year-on-year increase of 148.4%, continuing to maintain a steady progress. In terms of new energy vehicle sales, in September, domestic new energy vehicle sales were 357,000. The month-on-month growth was 11.4% and the year-on-year growth was 148.4%. Both production and sales hit new highs.

In terms of auto exports, domestic auto exports reached 173,000 in September, down 7.5% from the previous month and up 74% year-on-year. Among them, the export volume of passenger cars was 135,000, and the export volume of new energy vehicles was 22,000.

On the whole, domestic automobile production and sales in September showed a trend of month-on-month growth and year-on-year decline. The decline in output was 0.8% lower than that in August, and the decline in sales was 1.8% higher than that in August. Although the problem of chip shortage has been alleviated to a certain extent, it still cannot meet the production needs, coupled with the high base in the same period last year, which has caused the above-mentioned chain growth and year-on-year decline. Looking ahead to the fourth quarter, factors such as rising electricity tariffs and continued high prices of raw materials will increase cost pressures on enterprises. Taking all factors into consideration, the performance of the automotive market this year may be weaker than expected.