Car sales up 68.8 percent year-on-year in the first quarter, parts industry ushered in a boom

Release time:

2021-05-07

Core tip: In the first quarter, the total sales volume of automobiles nationwide was 5.092 million, up 68.8 year on year. While the auto industry is picking up, will the auto parts industry benefit from it?

Car sales up 68.8 percent year-on-year in the first quarter, parts industry ushered in a boom

With the epidemic under full control, China's auto industry rebounded more obviously, sales exceeded market expectations. According to data from the National Rider Federation, the country's cumulative car sales in the first quarter were 5.092 million, an increase of 68.8 percent year-on-year. While the auto industry is picking up, will the auto parts industry benefit from it?

According to the latest retail data from the Passenger Association, the domestic narrow passenger car market sold 1.752 million vehicles in March, a year-on-year increase of 67.2 percent and a month-on-month increase of 48.6 percent; the cumulative sales from January to March were 5.092 million vehicles, a year-on-year increase of 68.8 percent. In terms of specific models, 869000 cars were sold in March, up 72.49 percent from a year earlier; 106000 MPVs were sold, up 53.29 percent from a year earlier; 70000 SUVs were sold, up 67.29 percent from a year earlier; and 185000 new energy narrow passenger cars were sold, up 302.9 percent from a year earlier. According to the March data released by some car companies, BYD's sales in the Chinese market reached 33817, an increase of 88.72 percent over the same period last year; Dongfeng Nissan's terminal sales reached 100934, an increase of 82.1 percent over the same period last year; Jiangqi Group's car sales reached 55000, an increase of 60 percent over the same period last year; and Great Wall Motor sales reached 110700, an increase of 84.41 percent over the same period last year.

The substantial increase in car sales also means the arrival of a new boom cycle for the auto parts industry. In the factory of an auto parts company in Chongqing, the reporter saw that it was busy here. Amidst the roar of the machine, the automated robotic arm was running at high speed. Zhu Wenwu, head of the factory, told reporters that with the epidemic under control, the domestic auto industry has begun to gradually pick up, their orders have seen rapid growth, and the output value is expected to double this year.

Also feel the auto parts market pick up and Jiang Yingwu, he told reporters that in last year's epidemic during the industry's most downturn, the company's lowest output value of less than the normal period of 1/3, many workers have no work to do can only rest at home. However, since October last year, orders from automakers have also begun to increase, and their production capacity has now returned to about 80% of what it was before the epidemic. In addition, out of optimism about the future of the entire industry, their company is also preparing to add another production line in June.

(Source: CCTV Network)