May sales: Eight domestic top ten depots declined
According to the latest data released by the China Association of Automobile Manufacturers, the domestic auto market continued to show a slight decline in May due to rising oil prices and intensified price competition among automakers, which caused some consumers to delay their purchases. Despite this month-on-month drop, sales still maintained strong growth compared to the same period last year.
The China Automotive Industry Association reported that total auto production in May reached 581,100 units, marking a 15.31% decrease from April but a significant 26.69% increase year-over-year. Sales for the month stood at 567,500 units, down 15.67% from the previous month, yet up 21.03% compared to May 2022. Passenger cars remained the strongest segment, with 413,500 units produced and 393,600 units sold—down 14.40% and 15.97% respectively from April, but up 35.93% and 24.08% year-over-year. Commercial vehicles saw 176,600 units produced and 173,900 units sold, representing a 17.48% and 14.99% monthly decline, but a solid 8.49% and 14.64% rise compared to last year.
In terms of top-selling manufacturers, FAW, SAIC, Dongfeng, Beiqi, Changan, Hafei, Chery, Guangzhou Automobile, Geely, and Brilliance ranked among the top ten. Their respective sales figures for May were 95,400, 95,000, 75,000, 53,600, 49,800, 22,400, 22,100, 19,600, 19,400, and 1,900 units. Compared to April, only Geely and Brilliance saw slight increases, while others experienced declines. However, when compared to the same period last year, most companies showed strong growth, with the exception of Changan and Guangzhou Automobile, which saw minor drops. Brilliance recorded the most impressive growth.
Together, these ten companies accounted for 477,300 units sold in May, making up 83.05% of the total auto sales in the country. This data highlights both the challenges and the resilience of the Chinese automotive industry as it navigates through shifting market conditions.
Jiangsu Bailite Transmission Technology Co., Ltd , https://www.zsindustrialbelt.com