China Autos Industry boomed in July fueled by tax cut

China Autos Industry

China Autos Industry boomed in July fueled by tax cut. Although market volume soared, the dealer inventory was the lowest in years and a robust order bank has been created by dealers.

Market Outlook

The Chinese economy was able to keep up its momentum in Q2 due to continued policy support. While retail sales suggested that private consumption was broadly stable in Q2, investment among state-sponsored companies soared in the same period, which partially compensated for poor dynamics in investment from private firms.

Moreover, a large trade surplus in Q2 mainly due to a weakening yuan has likely improved the contribution from the external sector to overall growth. Although China’s exposure to the United Kingdom is limited, the impact of the Brexit decision is likely to be felt through a slowdown in external demand from Europe and heightened volatility in the financial sector.

In the automotive sector, the first half had been almost positive, but probably below the government expectations and in July a new stimulus was introduced in favor of new sales, with tax break for new purchase within the year end and in July the dealers had been in panic in many metropolitan areas assaulted by customer’s request, with sales booming.

The supply channel has not been immediately responsive and as reported by the CAAM, the China Automobile Dealers Association, cars inventories have fallen to a one-year low.

According to the data released by the  C.A.A.M., (China Association of Automobile Manufacturers), the total vehicles sales ( including both local produced and imported vehicles) in July had been 2.099.000 (preliminary data), up +36.7%.

Year to date July  total light vehicles sales had been 15.031.607, up 10.5% compared to the same period last year.

Competitive Arena

In July, the market leader Volkswagen retained the leadership 205.004 vehicles (+30.2%) keeping the 11.1% of market share.

The new second placed was Honda with 104.180 vehicles sold (+43.0%) while the leader in the light commercial vehicles segment, Toyota, was third with 88.795 sales (-10.9%).

Behind, Buick was fourth with a robust raise at 87.553 sales (+42.3%) ahead of Wuling with 85.045 (-8.9%), ChanghAn with 79.452 (+8.1%), Ford with 73.336 (+35.6%), Great Wall with 71.476 (+26.7%), Hyundai with 70.647 (+28.5%) and in 10th place Nissan with 67.175 (+20.5%).

As far as the Car Groups performance, the leader Volkswagen posted a market share of 15.0% followed by General Motors with 7.0%, Hyundai-Kia with 6.1%, SAIC with 5.7% and Honda with 5.6%.

In July, the best-selling model was the Wuling Hongguang with 42.178 units (+123.9%) and is now under attack by the fast growing Haval H6, second with 39.079 (+69.3%),

Third was the Volkswagen Lavida with 37.053 (+25.9%) followed by the Buick Excelle GT with 31.109 sales (+72.8%) and the new Toyota Corolla with 27.750 units (+2.7%).

Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.

Rank JulRank 2016BrandSales JulSales YTD JulVar JulVar YTD JulShare JulShare YTD Jul
11Volkswagen205.0041.677.72830,2%7,1%11,1%11,6%
26Honda104.180624.58943,0%27,4%5,6%4,3%
35Toyota88.795634.538-10,9%7,8%4,8%4,4%
44Buick87.553652.62242,3%27,9%4,7%4,5%
53Wuling85.045740.308-8,9%-17,4%4,6%5,1%
62ChangAn79.452786.9878,1%0,0%4,3%5,4%
79Ford73.336541.52935,6%9,4%4,0%3,7%
88Great Wall71.476549.99326,7%5,9%3,9%3,8%
97Hyundai70.647597.68228,5%4,5%3,8%4,1%
1011Nissan67.175498.31220,5%14,4%3,6%3,4%
1110Dongfeng57.713509.14242,5%17,8%3,1%3,5%
1217Geely49.625328.88186,9%16,8%2,7%2,3%
1313Audi48.071360.04823,4%13,6%2,6%2,5%
1412Baojun44.341375.39224,6%69,6%2,4%2,6%
1514Kia42.721340.68732,8%-3,0%2,3%2,3%
1622Foton40.318249.68147,3%5,0%2,2%1,7%
1719BYD38.483261.28159,0%3,8%2,1%1,8%
1818BMW36.396270.5184,7%2,3%2,0%1,9%
1920Mercedes36.203256.9495,5%24,4%2,0%1,8%
2049BAW35.27941.6436155,1%893,9%1,9%0,3%
2121Chevrolet34.908250.60119,1%-27,6%1,9%1,7%
2216Jac34.042332.489-0,4%15,7%1,8%2,3%
2325Lifan31.341187.539213,4%145,1%1,7%1,3%
2423Chery30.516225.66315,0%-1,6%1,6%1,6%
2524GAC GONOW30.016199.36671,7%136,6%1,6%1,4%
2627Skoda22.697174.76041,0%18,8%1,2%1,2%
2728Zotye21.556167.304118,2%59,3%1,2%1,2%
2830Jinbei21.284143.825-6,1%-21,1%1,1%1,0%
2926Peugeot20.089182.007-13,9%-20,7%1,1%1,3%
3033Jeep19.364111.382184,2%136,4%1,0%0,8%
3131Mazda18.888133.2951,3%1,4%1,0%0,9%
3238Roewe14.42285.918139,6%83,1%0,8%0,6%
3329Citroen14.298144.133-9,2%-17,2%0,8%1,0%
3435JMC12.116103.43030,5%-1,0%0,7%0,7%
3541Isuzu10.67658.822-8,6%-31,9%0,6%0,4%
3632Faw9.785117.127-27,9%-24,7%0,5%0,8%
3746Land Rover9.70143.47460,0%40,9%0,5%0,3%
3834Haima9.420110.77846,9%24,4%0,5%0,8%
3939Cadillac9.31961.359137,5%111,4%0,5%0,4%
4037Suzuki8.12893.879-32,1%-16,8%0,4%0,6%
Rank JulRank 2016GroupSales JulSales YTD JulVar JulVar YTD JulShare JulShare YTD Jul
11Volkswagen280.8992.248.35429,1%8,8%15,0%15,4%
22General Motors131.786964.62439,1%8,9%7,0%6,6%
33Hyundai-Kia113.368938.36930,1%1,6%6,1%6,4%
44SAIC106.690879.512-0,2%-10,6%5,7%6,0%
57Honda104.561627.25642,7%27,3%5,6%4,3%
66Toyota95.873681.736-10,2%7,2%5,1%4,7%
75ChangAn79.452786.9878,1%0,0%4,2%5,4%
817BAIC75.597291.324170,5%20,4%4,0%2,0%
910Ford74.226548.98835,0%9,3%4,0%3,8%
1011Renault-Nissan73.525540.29921,9%15,9%3,9%3,7%
Rank JulRank 2016ModelSales JulSales YTD JulyVar JulVar 2016
11Wuling Hongguang42.178336.491123,9%-2,5%
23Haval H639.079279.33269,3%43,2%
32Volkswagen Lavida37.053324.40725,9%23,5%
47Buick Excelle GT31.109199.26972,8%62,0%
56Toyota Corolla27.750201.0682,7%19,2%
610GAC Trumpchi GS427.607178.40284,0%464,9%
75Volkswagen Jetta27.516201.22475,3%21,4%
811Volkswagen Santana25.897177.67674,5%6,1%
912Nissan Sylphy25.495172.54522,6%5,5%
104Hyundai Elantra25.452204.74293,3%6,6%
1114Ford Escort24.517152.624110,0%29,0%
128Volkswagen Sagitar20.239190.66517,6%25,7%
1316Wuling Mini-truck20.117135.6630,0%4,7%
1427Honda CR-V18.600104.08253,5%40,8%
1513Baojun 73018.238162.333-20,6%-10,3%
1615Foton Light Truck16.899143.755-0,8%-5,5%
1717Buick Envision16.026131.71054,1%72,7%
1823Ford Focus15.988113.68315,5%-24,5%
1919Chevrolet Cruze15.958124.41734,3%-5,1%
2020Geely EC715.876122.81539,6%9,4%
219Baojun 56015.607190.13670,4%1976,2%
2238Toyota Levin15.58793.70362,7%36,6%
2322Wuling Hongguang V15.422114.41510,1%-14,3%
2421Jinbei Light Bus15.000119.0007,1%40,2%
2528Lifan Light Truck14.845103.91585,7%145,0%
2635Honda XR-V14.23294.87539,5%57,7%
2718Volkswagen Tiguan14.051125.812-19,6%-15,6%
2834Volkswagen Bora14.01595.33033,6%-10,2%
2943Honda Vezel13.95789.32238,4%43,0%
3044Kia K313.28188.153152,2%5,8%
3137Nissan X-Trail13.11594.07021,4%16,1%
3239Volkswagen Magotan12.85591.53542,5%5,1%
3330Volkswagen Polo12.719103.51433,5%-3,2%
3426Volkswagen Golf12.315107.118-6,4%1,7%
3549BMW 5 Series L12.19081.799-2,6%-3,7%
3646Skoda Octavia12.12885.44126,5%2,4%
3745Buick Verano12.08486.430383,4%1627,9%
3895Chery Arrizo 511.13546.408
3924JAC Refine S310.966108.423-8,5%4,4%
4047Hyundai Verna10.95784.59052,9%-28,5%

To know all about this market, you can read the China Car Market Insights 2015, recently published:

 

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