In February 2014, China's automobile industry experienced a strong growth in both production and sales compared to the same period in the previous year. From January to February, total vehicle production and sales rose by over 10%, though the growth rate was slightly lower than the previous year’s pace. Notably, car sales during this two-month period increased by 17.8% year-on-year, showing continued momentum in the market.
**First, February Car Sales Grew by 17.8% Year-on-Year**
According to data from the China Association of Automobile Manufacturers, national automobile production in February reached 1.16 million units, while sales hit 1.596 million units. Compared to the previous month, both figures declined—by 20.2% in production and 26.0% in sales—but when compared to the same period last year, they showed significant growth: 21.5% for production and 17.8% for sales.
For the first two months of the year, total automobile production amounted to 3.688 million units, and sales reached 3.752 million units, up 11.4% and 10.7% respectively.
**(I) Passenger Car Sales Rose by 18.0% Year-on-Year**
In February, passenger car production totaled 1.338 million units, up 21.2% year-on-year but down 21.7% from the previous month. Sales reached 1.312 million units, an increase of 18.0% year-on-year, though still down 29.0% from January.
Breakdown by type showed that car sales were 830,500 units, up 10.7% year-on-year; MPV sales reached 134,300 units, up 73.1%; SUV sales climbed to 237,200 units, up 50.3%; and cross-type passenger car sales dropped to 110,200 units, down 12.9% year-on-year.
From January to February, passenger car production and sales were 3.0039 million and 3.1599 million units respectively, rising 11.9% and 11.3% year-on-year. Car sales stood at 2.0262 million, up 4.6%; MPV sales rose 69.3% to 326,600 units; SUV sales increased 40.4% to 557,700 units; and cross-type passenger car sales fell 20.1% to 246,500 units.
**1. Market Share of 1.6L and Below Passenger Cars Dropped**
Sales of 1.6L and below passenger cars in February reached 883,400 units, accounting for 67.32% of the market, a decrease of 3.39 percentage points from the same period last year. Despite the drop in market share, sales increased by 12.36% year-on-year.
From January to February, sales of these vehicles totaled 2.191 million units, making up 67.08% of the market, down 3.55 percentage points from the previous year. Sales grew by 5.74% year-on-year.
**2. Self-Branded Car Sales Fell by 7.6% Year-on-Year**
In February, sales of self-branded passenger cars totaled 503,700 units, up 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, self-branded car sales dropped by 18.2% to 177,700 units, representing 21.4% of total car sales, down 7.6 percentage points from the previous year.
From January to February, self-branded passenger car sales totaled 1.121 million units, down 1% year-on-year, with a market share of 38.4%, down 4.8 percentage points. Sales of self-branded cars fell 20.7% to 456,500 units, making up 22.5% of total car sales, down 7.2 percentage points year-on-year.
**(II) 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, although down 12.4% from the previous month. Sales totaled 248,200 units, an increase of 17.0% year-on-year, but down 8.2% from January.
From January to February, commercial vehicle production reached 639,500 units, up 9.2% year-on-year, and sales totaled 539,900 units, up 7.6%.
**Second, Import and Export Markets Continued to Grow**
In January 2014, total vehicle exports reached 88,600 units, up 7.9% year-on-year, with export value reaching $1.258 billion, up 16.9%. Meanwhile, total imported vehicles reached 111,000 units, up 57.6% year-on-year, and import value reached $4.993 billion, up 67.0% year-on-year.
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