In February 2014, China's automobile production and sales market experienced a strong year-on-year growth. From January to February, both production and sales rose by over 10%, although the growth rate was slightly lower compared to the same period in the previous year. Specifically, vehicle sales during this two-month period increased by 17.8% year-on-year.
According to data from the China Association of Automobile Manufacturers, in February alone, the national automobile production reached 1,163,500 units, while sales totaled 1,596,400 units. Compared to the previous month, production and sales decreased by 20.2% and 26.0%, respectively. However, when looking at the year-on-year comparison, production and sales grew by 21.5% and 17.8%, respectively.
From January to February, the total automobile production was 3.688 million units, and sales reached 3,752,900 units, representing increases of 11.4% and 10.7% year-on-year.
**Passenger Car Sales in February Grew by 18.0% Year-on-Year**
In February, passenger car production stood at 1,338,800 units, reflecting a 21.2% increase from the previous year, though it dropped by 21.7% compared to the previous month. Sales for the same period reached 1,312,200 units, up 18.0% year-on-year, but down 29.0% from the previous month.
Breakdown of passenger car sales included: 830,500 cars sold (up 10.7%), 134,300 MPVs (up 73.1%), 237,200 SUVs (up 50.3%), and 110,200 crossover vehicles (down 12.9%).
For the first two months of the year, passenger car production and sales were 3.0039 million and 3,159,900 units, respectively, showing growth of 11.9% and 11.3%. Among these, car sales increased by 4.6%, MPV sales by 69.3%, SUV sales by 40.4%, and crossover vehicle sales declined by 20.1%.
**Market Share of 1.6L and Below Passenger Cars Declined**
In February, sales of 1.6L and below passenger cars reached 883,400 units, accounting for 67.32% of the total market, a drop of 3.39 percentage points compared to the same period last year. Despite the decline in market share, sales still rose by 12.36% year-on-year.
From January to February, sales of 1.6L and below passenger cars totaled 2,191,000 units, making up 67.08% of the market, down 3.55 percentage points from the previous year. The sales volume increased by 5.74% year-on-year.
**Sales of Domestic Brand Vehicles Dropped by 7.6% Year-on-Year**
In February, sales of domestic brand passenger cars reached 503,700 units, an increase of 5.4% year-on-year, but accounted for 38.4% of the market, down 4.6 percentage points from the same period in 2013. Among them, domestic brand car sales fell by 18.2%, representing 21.4% of total car sales, down 7.6 percentage points from the previous year.
From January to February, domestic brand passenger car sales totaled 1,121,100 units, a 1% decrease year-on-year, with a market share of 38.4%, down 4.8 percentage points. Domestic brand car sales dropped by 20.7%, representing 22.5% of total sales, down 7.2 percentage points year-on-year.
**Commercial Vehicle Sales Increased by 17.0% Year-on-Year**
In February, commercial vehicle production reached 298,700 units, up 23.3% year-on-year, but down 12.4% from the previous month. Sales totaled 248,200 units, an increase of 17.0% year-on-year, though down 8.2% from the previous month.
From January to February, commercial vehicle production reached 639,500 units, up 9.2% year-on-year, and sales reached 539,900 units, up 7.6% year-on-year.
**Automobile Import and Export Market Maintained Growth**
In January 2014, the total number of exported vehicles reached 88,600 units, up 7.9% year-on-year, while the total export value reached $1.258 billion, an increase of 16.9%. Meanwhile, imported vehicles totaled 111,000 units, up 57.6% year-on-year, with total import value reaching $4.993 billion, up 67.0% year-on-year.
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