Competition in SUV Market Intensifies Amidst Strong Growth

Source: China Business Journal, ChinaScope Financial (Data)

+       In 12H1, the volume of SUV sales increased to 952,600, a growth rate of 28.4% year-on-year, up from the 23.6% in 2011. The 12H1 SUV growth vastly outpaced the 7.08% of passenger vehicles.

+       Given the rapid demand growth in the SUV market, automobile manufacturers are optimistic about future sales. 20 new SUV models will be released soon, all of which are believed to intensify competition in the domestic market.

The sales momentum of SUVs was particularly strong in May and June, where it showed growth rates three times that of passenger vehicles.

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Passenger Car Sales Increase 12.4% YoY in April

Source: China Association of Automobile Manufacturers, ChinaScope Financial (Data)

+       Data released by the China Association of Automobile Manufacturers on May 9 shows that 1.65 million automobiles were produced in April, down 12.39% month-on-month but up 7.81% year-on-year. Meanwhile, 1.62 million automobiles were sold, down 11.65% month-on-month but up 5.19% year-on-year.

+       In April, 1.31 million passenger cars were produced and 1.28 million sold, down 10.35% and 8.85% month-on-month, but up 13.55% and 12.46% year-on-year.

+       During the Jan-April period, automobile production increased 0.47% year-on-year to 6.43 million, while automobile sales decreased 1.33% year-on-year to 6.42 million.

The passenger vehicles sales volume growth rebounded in April with a 5.19% YoY growth. Commercial vehicles’ demand remains weak.

With a 33.59% YoY growth in April, SUV growth was the highest among passenger vehicles.

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