Volkswagen Sales in China Fell
In October, Volkswagen’s China deliveries fell 9.8% to 274,100 units, which is the fifth consecutive month of decline in the German brand’s sales.
The brand blamed the decline in sales on trade disputes between China and the United States: “This is mainly due to the ongoing trade disputes with the United States that cause Chinese customers to face uncertainty.”
In the first 10 months of this year, sales of Volkswagen brand China increased slightly by 0.4% to 2,515,400 units.
Benefiting from China’s sharp cut in tariffs on imported cars in July, Audi’s sales in China increased by 5.4% year-on-year to 5,649 units in October.
The Volkswagen Group has not disclosed the sales figures of its other brands in China in October.
Domestic passenger car sales accelerated
Although the sales of new energy vehicles have maintained strong growth, they are not enough to reverse the decline in the domestic passenger vehicle market. According to the statistics of the China Association of Automobile Manufacturers, the sales of passenger cars of domestic car companies fell for four consecutive months in October, and fell by 12.99% year-on-year to 2.0468 million.
In October, sales of passenger cars in all segments of the market declined significantly. Among them, the sales of cars were 995,800, down 10.05% year-on-year; the sales of SUVs were 870,900, down 14.69%.
In addition, MPV sales were 147,200 units, a sharp drop of 22.42% year-on-year; cross-type passenger vehicles sold 32,900 units, down 5.27%.
Due to the continuous decline in sales from July to October, the total sales of domestic passenger cars in the first 10 months of this year was only 190.34 million, a decrease of 1.02% compared with the same period of last year.
In October, sales of commercial vehicles only completed 333,000 units, down 2.8% year-on-year.
In summary, the total domestic sales of automobiles last month was 2.38 million units, down 11.7% year-on-year; from January to October, the cumulative sales volume of automobiles was 22.871 million units, down slightly by 0.1% from the same period of the previous year.
New energy continues to sell well
In contrast to the sharp drop in fuel vehicle sales, new energy vehicle sales continue to grow at a high rate. In October, sales of new energy vehicles reached 138,000 units, a surge of 51% year-on-year. Among them, 111,000 are pure electric vehicles and 27,000 are plug-in hybrid vehicles.
In the first ten months of this year, the cumulative sales of domestic new energy vehicles reached 860,000 units, a sharp increase of 75.6% over the same period of the previous year. Among them, there are 653,000 pure electric vehicles and 207,000 plug-in hybrid vehicles.
GM’s two joint ventures reduced their combined sales by 12% in October
According to SAIC Group, SAIC-GM and SAIC-GM-Wuling sold 344,987 vehicles last month, down 12% year-on-year.
Among them, SAIC-GM’s sales fell 9% year-on-year to 183,154 units, while SAIC-GM-Wuling’s sales fell 16% to 161,833 units.
Due to the impressive sales growth in the first half of the year, the combined sales of SAIC-GM and SAIC-GM-Wuling increased slightly by 1.1% year-on-year to 3,282,025 units in the first 10 months of this year.
During the same period, SAIC-GM’s sales increased by 3.5% year-on-year to 1,617,471 units, while SAIC-GM-Wuling’s sales fell slightly by 1% to 1,664,554 units.
In April this year, GM stopped reporting monthly sales data for its China market.