China’s auto sales rebounded strongly in June after contracting year-on-year for three consecutive months, driven by the waning outbreak of the coronavirus and strong stimulus policies.
Last month, about 2.502 million cars were sold across China, up 23.8% and 34.4% from the previous year and the previous month, respectively, according to data from the China Association of Automobile Manufacturers (CAAM).
Industry data showed that in the first half of 2022 (“H1”), vehicle sales in the world’s largest auto market totaled 12.057 million units, with sales of New Energy Vehicles (“NEV”) up 115% over the previous year.
The general upward movement indicates that most of China’s mainstream automakers posted year-on-year growth in June sales.
Gasgoo hereby presented sales data from ten major Chinese auto groups, and found that none of them experienced year-on-year declines in June.
SAIC Motor, China’s largest auto group, saw June sales rise 47.16% from a year ago. The strong growth occurred after the group experienced a double-digit year-over-year decline for three consecutive months.
Aside from SAIC Motor, five auto groups (GAC Group, Changan Automobile, BYD, Geely Automobile and Chery Holding) saw their June sales rise with double-digit or higher growth.
As for year-to-date performance, the drop in sales between March and May has been significantly pared back, or even turned into positive growth. Among the ten auto groups on the table, GAC Group, BYD and Chery Holding made a notable upward movement in the January-June period. sales.
Notably, BYD was the only company to boast a triple-digit rise in both June sales and annual sales to date.
Another point worth noting is that most of the brands owned by these car groups have gone viral last month. For example, June sales of passenger car companies SAIC Motor, GAC Motor and GAC AION were up 75.75%, 30.94% and 182.44% over the previous year, respectively.
The booming sales growth of NEV contributed significantly to the year-over-year increase in overall sales for each batch.
Among the 10 car groups, BYD outperformed the others in terms of June sales and the H1 NEV. Since it ceased production of oil-fueled vehicles in March of this year, NEVs have accounted for 100% of the automaker’s monthly vehicle sales.
In addition, Dongfeng Motor Group, Geely Automobile, GAC Group and Chery Holding reported triple-digit annual growth in NEV sales for the month of June.
With the ambition to see products go up, a slew of automakers in China have launched their own premium NEV brands, some of which have begun delivering cars with sales data shown in their monthly sales results. For example, VOYAH of Dongfeng Motor Group sold 906 cars in June, resulting in a year-to-date sales volume of 5,676 units, while Geely’s ZEEKR recorded a sales volume of 4,302 units in June and 19,010 units in the first half of this year.
Startups have also acted as important contributors to the NEV sales boom in China. In June, the top five Chinese NEV startups saw a 60% year-over-year jump to exceed 11,000 units. XPeng still ranked highest, while Hozon Auto won the largest growth rate.
Aside from NIO and WM Motor, the other four of the top 6 startups achieved a triple-digit annual rise in January-June. deliveries.
Some startups expect their sales to increase as new products come to market in the second half of 2022. NIO will begin delivery of ES7 and ET5 in August and September, while Li Auto’s L9 and XPeng’s G9 are expected to be delivered in August and the fourth quarter, respectively.
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