Chip shortage pressure gradually eased in November, passenger car retail sales increased by 6% month-on-month

Original title: Chip shortage pressure gradually eased in November passenger car retail volume increased by 6% month-on-month

Every reporter: Dong Tianyi Every editor: Sun Lei

Picture source: Photo by Zhang Jian, every reporter (data map)

On December 8, the my country Passenger Car Association released the November sales data of China’s passenger car market. The data shows that in November this year, my country’s passenger car market retail volume was 1.816 million units, an increase of 6.0% month-on-month, a year-on-year decrease of 12.7%, and a decrease of 6% compared to November 2019. In November, my country’s passenger car retail market was generally weak. , But the performance has slightly improved compared with the same period in recent years.

“The improvement of the domestic automobile market in November was based on a good environmental foundation. Due to good epidemic prevention measures, the epidemic was stable from the end of September to mid-November. The’unblocking’ in some areas is conducive to the recovery of consumption in the automobile market.” National Passenger Car Market Information Joint Conference Secretary-General Cui Dongshu believes that the gradual improvement in chip supply at the end of September also effectively promoted the increase in my country’s passenger car production and sales in November.

According to data from the my country Passenger Transport Association, from January to November this year, the cumulative retail volume of passenger vehicles in China was 18.041 million, a year-on-year increase of 6.1%, a drop of 2 percentage points from the growth rate from January to October. Cui Dongshu believes that the main reason for the dilution of growth is the high base of retail sales from July to November last year.

“The dark moment of automotive chip supply has passed, but the original forecast that improved chip supply will promote production to the same period last year has not been realized, and the bottleneck factor of supply opacity is still there.” Cui Dongshu said.

It is worth mentioning that in November, the retail volume of new energy passenger vehicles in my country reached a new high. According to data from the Passenger Association, in November this year, the retail sales of new energy passenger vehicles in my country was 378,000, a year-on-year increase of 122.3%, and a month-on-month increase of 19.8%; from January to November this year, my country’s retail sales of new energy vehicles were 2.514 million. A year-on-year increase of 178.3%.

“The trend of new energy vehicles and traditional fuel vehicles has formed a strongly differentiated feature, realizing a substitution effect on the fuel vehicle market, and spurring the auto market to accelerate the pace of transition to new energy.” Cui Dongshu said.

Driven by good sales, the penetration rate of new energy vehicles in domestic retail has further increased. According to data from the Travel Association, in November, the domestic retail penetration rate of new energy vehicles was 20.8%; from January to November, the penetration rate was 13.9%, a significant increase from the 5.8% penetration rate in 2020.

Specifically, in November, the penetration rate of new energy vehicles among independent brands was 37.4%; the penetration rate of new energy vehicles among luxury cars was 19.4%; and the penetration rate of new energy vehicles among mainstream joint venture brands was only 3.6%. Cui Dongshu said: “The top companies with independent brands have strong resilience in the industrial chain, which effectively relieved the pressure of chip shortages and achieved significant growth in the new energy market.”

In November, my country’s new energy passenger vehicle market showed a diversified momentum, with 14 companies with manufacturers’ wholesale sales exceeding 10,000 vehicles. Among them, the top five car companies are BYD, Tesla, SAIC-GM-Wuling, Great Wall Motors and Xiaopeng Motors, with sales of approximately 90,500, 52,800, 50,100, 16,100 and 15,600 respectively. .

Regarding the performance of the current domestic auto market, Cui Dongshu believes that the current important factor restraining the growth of the auto market is the downturn of entry-level models, which is also affected by the lack of consumption power caused by changes in consumer confidence and disposable income. However, the previous backlog of orders has yet to be released. Therefore, car purchases before the Spring Festival also have a larger potential user group, and the market needs to create a better consumer environment.

“The node before the Spring Festival is a period of concentrated outbreak of first purchase users, and the auto market is bound to have a strong performance. It is expected that the shortage of resource supply in December will be further eased. In addition, the Spring Festival in 2022 will be on February 1, 11 days earlier than last year. Retail sales in the auto market accelerated in December, so the performance of the domestic auto market in December can still be expected.” Cui Dongshu said.

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