Sales in China continue to fall in December


New car sales in China fell 8% to 2,556,000 units in December 2022, compared with 2,786,000 units in the same month last year, according to wholesale data for passenger and commercial vehicles released by the China Association of Automobile Manufacturers (CAAM).

The Chinese vehicle market had slowed significantly since the third-quarter recovery, reflecting widespread Covid outbreaks and related lockdowns across the country in the fourth quarter. December shipments to dealers were held back by semiconductor shortages, according to CAAM, with supply chains disrupted again by the pandemic.

Full-year sales rose 2% to 26,864,000 units from 26,275,000 units in 2021, helped by a 50% cut in motor vehicle sales tax in the second half of the year.

Passenger car sales rose 9% to 23,563,000 units, mainly due to rising demand for New Energy Vehicles (NEVs), while commercial vehicle sales fell 31% to 3,301,000 units.

NEV sales nearly doubled last year to 6,887,000 units, accounting for 25% of total vehicle sales. Shipments of battery electric vehicles (BEVs) rose 84% to 5,364,000 units, or 20% of total sales, while sales of hybrid vehicles rose 153% to 1,523,000 units.

Vehicle exports rose 45% to 324,000 units in December and 54% to 3,111,000 units last year, with NEV deliveries up 120% to 679,000 units.

Competition in the BEV market is increasing rapidly, especially in the premium segment, which has been targeted by a large number of domestic startups due to higher margins. Leading brands, including Tesla, have had to lower their prices in recent months.

Ralf Brandstätter, Chairman and CEO of Volkswagen Group China, said he expects NEVs to account for a third of all vehicle sales in 2023. The company is ramping up its electrification offensive in China, with its battery-powered ID.7 sedan set to launch in the market later this year. The company said it will invest €14 billion in its Chinese joint ventures over the next two years and expects NEVs to account for 40% of its sales in the country by 2030.

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The country’s largest vehicle manufacturer based in Shanghai SAIC engine, reported a 19% decline in worldwide group sales to 536,370 units in December, while the full year total fell nearly 3% to 5,302,644 units. NEV sales rose 47% to 1,073,430 units last year, while overseas sales rose 46% to 1,017,430 units.
SAIC VolkswagenSales increased over 6% last year to 1,320,833 units SAIC GMSales fell more than 12% to 1,170,107 units, reflecting the company’s struggle with semiconductor shortages throughout the year. SAIC-GM-WulingDeliveries fell by just over 3.6% to 1,600,007 units; during SAIC engineOwn car sales rose by almost 5% to 839,187 units.

GAC group reported a 12% drop in sales to 206,001 units in December, while full-year sales rose over 13% to 2,533,801 units. GAC Toyota Sales up over 21% to 1,005,000 units; during GAC Honda Sales fell by almost 5% to 741,808 units; GAC engine 362,548 units (+12%); and BEV manufacturers GAC Aion 271,156 units (+126%).

BYDGlobal NEV sales rose 153% to 234,598 units in December and up 213% to 1,857,379 in 2022, including a 184% increase in BEV sales to 911,141 units and a 247% increase in hybrid sales 946,238 units. Last March, the company stopped producing vehicles with conventional internal combustion engines (ICE).

Geely carSales fell 8% in December to 146,017 units but rose 8% last year to 1,432,988 units, reflecting a 328% increase in BEV sales to 262,253 units and a 329 increase in hybrid vehicle sales % is due to 92,218 units. The company has set a sales target of 1.65 million vehicles by 2023.

Great Wall enginesGlobal sales in 2022 fell 17% to 1,067,523 units, despite a 21% increase in overseas sales to 173,180 units. The company said it is aiming to sell 1.6 million vehicles in 2023, fueled by the launch of at least 10 new NEVs.

TeslaWholesale shipments in Shanghai in December were reportedly down 21% to 55,796 units, reflecting a seasonal pause in production in the last week of the month and also weaker demand. For the full year, deliveries increased by around 50% to 710,865 units, including an estimated 440,000 domestic sales and 271,000 exports.





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