Analysis of China’s automobile imports from January to may 2022 From China Automobile Circulation Association
The following is the Analysis of China’s automobile imports from January to may 2022 From China Automobile Circulation Association recommended by recordtrend.com. And this article belongs to the classification: Automobile industry.
Although the domestic luxury car market continues to strengthen, the import volume of imported cars in China continues to decline at an average annual rate of about 10% from 1.24 million in 2017 to 930000 in 2020. Although the imported car market in 2021 was affected by the lack of core, the import volume was 930000 units, but it still increased by 0.1% year-on-year compared with 2020. From January to may in 2022, the imported vehicle market imported 400000 sets, a year-on-year decrease of 7%, of which 71100 sets were imported in May, a year-on-year decrease of 25%.
The core driving force for the growth of the import market is still the space for upgrading the consumption of passenger cars. The trend of luxury cars and imported cars is generally very good. From January to May this year, BMW overtook Mercedes Benz to become the first. In May, BMW had high domestic sales and low import sales. BMW, Mercedes Benz and Audi remained in the top three. Lexus became the fourth. Tesla and Cadillac also had a good trend.
1、 General trend of China’s automobile import
1. Characteristics of automobile import growth
After the sharp decline in the world economic downturn from 2013 to 2015, the import growth rate slightly stabilized and improved from 2016 to 2017, continued to decline from 2018 to 2020, and slightly stabilized in 2022. The recovery trend from January to may 2022 was affected by the epidemic. At present, the monthly import volume is maintained at about 80000 sets per month.
From January to December 2021, the import reached 930000 sets, with a growth rate of 0%, showing a strong performance. From January to may 2022, the import reached 400000 units, with a growth rate of – 7%, and the performance weakened.
In 2021, the imported vehicle market stabilized, with an annual import volume of 930000 units, a year-on-year increase of 0%.
The import volume from January to may 2022 will reach 400000 sets, a year-on-year decrease of 7%, slightly lower than that from January to may 2019. In May, 71100 imported vehicles were imported, a year-on-year decrease of 25%.
Considering the shortage of international supply caused by the current epidemic and chip shortage, there is still a great potential for the increment of imported vehicles to promote the recovery of growth throughout the year in the future.
2. Monthly trend of vehicle import
After the outbreak, imported passenger cars returned to normal. From the perspective of monthly trend, the import in recent years still shows seasonal characteristics, showing the trend of rising in summer and falling at the top of the roller coaster.
The import from January to may 2022 is slightly lower than that from January to may 2021, mainly because it is slightly lower in May, and the market supply has not improved much.
3. Structural characteristics of imported automobile
The import car market from 2017 to 2019 is relatively stable. In 2021, 930000 complete vehicles will be imported, a large increase compared with 2020. In the past two years, the import of traditional trucks and buses has declined, especially the import of heavy trucks and medium trucks, which reflects the completion of the demand release after the epidemic. However, the import of pickup trucks for light trucks is strong, which reflects the high market recognition of pickup trucks in the United States.
In the automobile import structure, passenger cars account for 99% of the absolute main force, and the trend of 4WD SUV has improved. The performance of commercial vehicles is weak, especially the import of trucks remains at a low level, but pickup trucks are strong.
4. Import structure characteristics of new energy vehicles
Due to the import structure dominated by passenger cars, the proportion of diesel cars in passenger cars has continued to decline in recent years, and the proportion of diesel cars has dropped to less than 1%.
The proportion of diesel vehicles in trucks has increased, while the proportion of gasoline trucks is relatively stable. The import performance of high-end pickup trucks improved from January to may 2022.
Recently, the diesel passenger car market has performed relatively well, and the diesel truck market has also performed relatively well.
5. Import structure characteristics of new energy vehicles
The displacement of imported passenger vehicles is concentrated in gasoline vehicles with a capacity of less than 2 liters, accounting for 50% of the total import volume of passenger vehicles. However, the recent import trend is strong for large displacement imported vehicles with more than 2 liters, and the high-end trend of the market is strong. With the adjustment policy of vehicle purchase tax, there will be a large increase in 2-liter models in the future.
6. Characteristics of new energy vehicle importing countries
In 2017-2019, the import of new energy vehicles was large, but in 2020, the decline of pure electric vehicles caused by Tesla’s domestic production was large.
In 2020, pure electric vehicles will decline significantly due to the impact of Tesla’s domestic production, but the trend of new energy will allow more enterprises to import new energy. The growth of plug-in hybrid and pure electric warming from January to may 2022 is also affected by the low base.
2、 Automobile overseas market pattern
1. Import characteristics by state
From 2017 to 2019, Asian imported cars grew rapidly, European imported cars remained stable, and North American imported cars showed a downward trend.
In 2020, the performance of imported vehicles recovered after the epidemic was differentiated. In 2021, the performance of imported vehicles in Europe was relatively strong. However, Japan’s imports in Asia recovered significantly year-on-year in the first quarter of 2022, which was very poor in May, while the growth of imported vehicles such as Thailand was average.
2. Monthly trend of vehicle import
From January to may 2022, imported vehicles from the United States performed relatively well, but Japan’s imports in May fell significantly year-on-year; The recent year-on-year growth of imported cars from the United States and Slovakia is amazing; The most serious decline was in European cars.
The import proportion of major countries remained above 98%. Mexico and other markets recovered significantly.
3、 Sales pattern of automobile market
1. Overall sales volume of imported vehicles
At present, the sales performance of imported cars is slightly worse than that of domestic luxury car market. In 2021, the sales volume of imported vehicles reached 940000 units, a decrease of 6% compared with that in 2020.
In May, the impact of the epidemic on the retail sales of imported vehicles was less than that of domestic vehicles. From January to May of 2022, the sales volume of imported cars was 300000 units, which was significantly lower than that of 2021, and was relatively weaker than that of domestic cars. Due to the shortage of goods in Japan and Europe, the strength of domestic cars is the embodiment of the advantages of the domestic industrial chain.
2. Brand characteristics of imported cars
At present, the growth of imported cars mainly depends on the growth of luxury cars. The proportion of luxury cars has increased from 77% in 2017 to 91% in January may 2022. The proportion of imports of Ultra Luxury cars has increased slightly, which shows that the purchasing power of ultra high-end consumer groups is actually rising.
3. Trend characteristics of imported car brands
At present, Lexus has the strongest performance of imported car brands, and its share continues to grow. In 2019, it has become the first imported car brand, and it will remain the first from January to may 2022. Lexus is relatively stable.
The performance of imported Mercedes Benz and BMW is relatively stable, while that of BMW is relatively strong.
The sales volume of imported cars of Porsche continues to grow rapidly, which is also a relatively strong brand among imported cars in Europe.
Tesla’s imported cars accounted for 4.1% in 2019, and then fell rapidly. At present, domestic cars have become the main force of Tesla, and Tesla’s exports are very strong.
4. Trend characteristics of imported vehicles
From January to may 2022, the overall trend of luxury cars in China was relatively weak, among which Lexus es and Mercedes Benz gle had the best sales performance, and Lexus RX had a good performance.
Lexus’ share performance this year is relatively stable and strong. Due to the relatively good epidemic control in Japan in 2022, the supply of Lexus is relatively good, but the overall domestic position of Lexus is still low, which is slightly stronger than that of Cadillac in the near future.
At present, the model information of Japanese overlord and Land Cruiser imported in parallel has been released, but it has not been officially licensed yet.
More reading: China Automobile Circulation Association: in March 2020, the domestic narrow passenger car market sales reached 1045000 units, a year-on-year decrease of 40.4%. China Automobile Circulation Association: China automobile maintenance rate report in April 2022 China Automobile Circulation Association: China imported automobile market monthly report in April 2020 China Automobile Circulation Association: in the first quarter of 2020, 57 luxury brand authorized 4S stores were added and 41 4S stores were withdrawn from the network. China Automobile Circulation Association: Hong Kong stock market in 2021 Dealer group financial report analysis China Automobile Association: auto imports in June 2018 dropped by 87.1% year-on-year. China Automobile Circulation Association: China automobile export analysis from January to February 2022 China Automobile Circulation Association: China automobile export analysis from January to October 2021 China Automobile Circulation Association: China automobile export analysis from January to March 2022 China automobile circulation Association: China automobile dealer inventory early warning index in April 2022 was 66.4%. China Automobile Circulation Association: June 2021 In depth analysis of China’s second-hand car market China Automobile Circulation Association: analysis of pickup car market in October 2021 China Automobile Circulation Association: analysis of the trend characteristics of the second-hand car market China Automobile Circulation Association: Investigation on the survival status of national automobile dealers in the first half of 2021 China Automobile Circulation Association: analysis of China’s parallel automobile imports from January to November 2021
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