On September 10, China Association of Automobile Manufacturers released the production and sales data of automobiles in August 2024. It shows that in August, the production and sales of new energy vehicles were completed 1.092 million and 1.1 million respectively, with a year-on-year increase of 29.6% and 30% respectively, and the sales volume of new energy vehicles reached 44.8% of the total sales volume of new vehicles. Among them, the production and sales volume of pure electric vehicles were 646000, with year-on-year growth of 9.7 percent and 8.3 percent respectively.

From January to August, the production and sales of new energy vehicles were completed 7.008 million and 7.037 million respectively, with year-on-year growth of 29% and respectively, and the sales volume of new energy vehicles reached of the total sales volume of new vehicles. Among them, the production and sales volume of pure electric vehicles were 4.208 million and 4.216 million respectively, with year-on-year growth of 8.7% and 9.7% respectively.

01

overall situation

in August, the production and sales of automobiles were completed 2.492 million and 2.453 million respectively, with a year-on-year increase of 9% and 8.5% respectively, and a year-on-year decrease of 3.2% and 5% respectively. From January to August, the production and sales of automobiles were 18.674 million and 18.766 million respectively, with year-on-year growth of 2.5% and 3% respectively, and the growth rate of production and sales was 0.9 and 1.3 percent age points lower than that of January to July.

Comments:

chen Shihua, deputy secretary general of China Association of Automobile Manufacturers: The total sales volume in August was close to 2.5 million, up from the previous month, but down from the same period last year. The main reason is that the base of the same period last year is relatively high; It takes time to implement policies such as scrap update and replacement update, and there will be no immediate effect in the short term.

02

passenger car

in august, the production and sales of passenger cars were completed 2.221 million and 2.181 million respectively, with an average increase of 9.4% compared with the previous month, down 2.3% and 4% respectively. From January to August, the production and sales of passenger cars were completed 16.141 million and 16.157 million respectively, with year-on-year growth of 3% and 3.3% respectively.

Comments:

chen Shihua: at present, the sales volume of traditional fuel vehicle has declined greatly, facing great downward pressure, and all levels of fuel vehicle have shown a downward trend.

03

commercial vehicle

in August, the production and sales of commercial vehicles completed 271000 and 272000 respectively, with a quarter-on-quarter increase of 5.7% and 1.4% respectively; Year-on-year decrease of 9.8% and 12.2% respectively. From January to August, the production and sales of commercial vehicles were completed 2.532 million and 2.608 million respectively, with the output down by 0.8% year-on-year, and the sales volume increased by 1.6% year-on-year.

Comments:

chen Shihua: the production and sales volume of commercial vehicle market in the first eight months were basically the same as last year. At the beginning of the year, we made higher expectations, but with the changes in infrastructure, logistics and transportation, the market performance was not as expected, especially in August, when a large decline occurred. However, with the implementation of various policies and the continuous recovery of the economy, I believe that the operation of the commercial vehicle market will improve.

04

new energy vehicle

in August, the production and sales of new energy vehicles were completed 1.092 million and 1.1 million respectively, with a year-on-year growth of 29.6% and 30% respectively, and the sales volume of new energy vehicles reached 44.8% of the total sales volume of new vehicles. From January to August, the production and sales of new energy vehicles were completed 7.008 million and 7.037 million respectively, with year-on-year growth of 29% and respectively, and the sales volume of new energy vehicles reached of the total sales volume of new vehicles.