Auto industry or temporary adjustment of the decline further narrowed

- Apr 29, 2019-

National bureau of statistics: auto industry or temporary adjustment decline further narrowed

The production and sales of automobiles may enter a short period of adjustment, said MAO shengyong, spokesman for the national bureau of statistics (NBS), in response to the falling sales of automobiles, the NBS website said yesterday.

Mr MAO said there had been a slowdown in production and sales of cars in recent times.From the domestic point of view, China's automobile industry has achieved rapid development in the past decade, with high production and sales volume.At present, the number of household car ownership has been rising, which is the basic situation.The production and sale of automobiles may enter a short period of adjustment.From abroad, some major developed countries have also seen a slowdown in car production and sales.

Mr. MAO noted that in March, auto production, though still falling, had narrowed.From the perspective of added value, the growth rate of added value of the automobile industry is positive, indicating that the upgrading of the internal structure of the automobile is accelerating.From the point of view of sales, there is also a changing trend.Therefore, after a period of adjustment, the next stage of the whole car production and sales may be further reduced, and then gradually enter a phase of small increases.

Data show that in March, China's automobile production and sales were 2.558 million and 2.52 million, respectively, up by 81.5% and 70.1% month on month, down by 2.7% and 5.2% year on year.In the first three months of this year, the production and sales of automobiles reached 6336 thousand and 6.372 million respectively, down 9.8% and 11.3% from the same period of the previous year, respectively 4.3 and 3.6 percentage points lower than that in the first two months of this year.

At the same time, MAO shengyong believes that attention to China's auto market, on the one hand, we should pay attention to the first hand car, the production and sales of about 28 million cars in 2018, do not ignore that we also have a growing, growing second-hand car market.The used-car market saw nearly 14 million transactions in 2018, or about half of the total new-car market, up more than 10 percent last year.Judging from the first quarter, transactions in the second-hand car market have maintained a certain growth in terms of both quantity and amount.Therefore, to observe China's automobile market, one must look at both the primary car market and the second-hand car market, and from the developed countries, the second-hand car market is very active.