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In January and February 2021, with China’s economy on a stable upward track, the auto consumption potential in small and medium-sized cities, counties and rural areas has been gradually released. New energy vehicles became a driver of auto sales growth. Indicators of new vehicle production and sales, auto import and export scale, used vehicle transactions, and recycling of scrap motor vehicles exceeded those of the same period in 2019.
The cumulative production and sales of new vehicles exceeded the level of the same period in 2019 by nearly 3%. According to the China Association of Automobile Manufacturers (CAAM), the production and sales of new vehicles in February were 1.503 million and 1.455 million respectively; the cumulative production and sales from January to February were 3.89 million and 3.958 million respectively, an increase of 2.9% and 2.7% over the same period in 2019. Among them, the production and sales of new energy vehicles in February were 124,000 and 110,000 respectively; the cumulative production and sales from January to February were 317,000 and 289,000 respectively, an increase of 110% and 96.1% over the same period in 2019.
The cumulative auto export volume exceeded the same period in 2019 by more than 86%. According to the preliminary statistics of the General Administration of Customs, the cumulative import of automobiles from January to February was 160,000, an increase of 3.9% over the same period in 2019; the cumulative export of automobiles was 281,000, an increase of 86.1% over the same period in 2019.
The cumulative trading volume of used cars exceeded that of the same period in 2019 by nearly 20%. According to the China Automobile Dealers Association (CADA), the national used car transaction volume in February was 955,000; the cumulative transaction volume from January to February was 2.387 million, an increase of 19.1% over the same period in 2019.
The cumulative recycling volume of end-of-life motor vehicles exceeded that of the same period in 2019 by nearly 15%. According to the Ministry of Commerce, in February, the number of motor vehicles recycled nationwide was 108,000; the cumulative number of recycled vehicles from January to February was 311,000, an increase of 14.7% over the same period in 2019.
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