3%, China Automobile Association released 2018 China's auto market forecast released (including market segments)

Recently, the China Association of Automobile Manufacturers (Automobile Association) officially released a forecast report on the Chinese auto market next year at the "2018 China Automotive Market Development Forecast Summit." According to a report from the China Automobile Association, the Chinese auto market will continue to grow slowly next year. With the growth trend, the annual sales of automobiles were 29,870,000, an increase of 3% year-on-year.

Point, speed, view

Passenger car: It is expected that the growth rate will be 3% in 2018 and the sales volume will be 25.59 million. Among them, sales of cars were 11.77 million, down 1%; sales of SUVs were 11.52 million, up 11%; MPV sales were 1.79 million, down 11%; micro-customer sales were 510,000, down 7%

Commercial Vehicle: It is expected that the overall growth will be 2% to 4.28 million in 2018. Among them, 470,000 passenger cars were sold, down 8%; 3.18 million were trucks, up 3%.

Import and Export: In 2018, exports are expected to reach 1.06 million, an increase of about 15% over the same period of last year. It is expected that imported automobiles will increase by 4% to 1.3 million vehicles in 2018

Due to the accurate prediction of last year, the forecast release of this year by the China Automobile Association is highly anticipated by the industry. In December 13th, China Automobile Association in Changsha, once again officially released the forecast report on the Chinese automobile market next year at the “2018 China Automotive Market Development Forecast Summit”. For the auto market situation next year, Assistant Secretary General of the China Association of Automobile Manufacturers Xu Haidong Xu Haidong It said that it will continue its slow growth, with an expected growth rate of 3% and overall demand of 29.87 million vehicles.

Specifically, China Automobile Association’s forecast for the Chinese automobile market in 2018 is that passenger cars are expected to grow at a rate of 3% in 2018 and sales volume will reach 25.59 million; of which, the sales volume of sedan will be 11.77 million, a year-on-year decline. 1%; SUV sales 11.52 million units, an increase of 11%; MPV sales of 1.79 million, down 11% year-on-year; cross-type is 510,000, down 7% year-on-year. For the commercial vehicle market, it is expected that commercial vehicles will increase by 2% to 4.28 million units in 2018 as a whole: Bus sales will be 470,000 units, down 8% year-on-year; truck sales will be 3.81 million units, up 3% year-on-year.

In addition, on the export side of the vehicle, it is expected that China's auto exports will continue to grow in 2018, but the growth rate will decline. In 2018, exports are expected to reach 1.06 million, an increase of about 15% over the same period last year. On the import side, as China's economic growth kinetic energy shifts, the domestic M2 growth rate will further slow down, which will affect the release of imported vehicle's consumption capacity. It is predicted that imported cars will still maintain growth in 2018, but the growth rate will be greatly reduced. In 2018, imported cars grew by 4% to 1.3 million vehicles.

As 2017 is about to pass, China Automobile Association said that the sales volume of Chinese automobiles is expected to reach 29 million vehicles, a year-on-year growth rate of approximately 3.5%. “China’s auto sales continue to grow steadily. The growth rate in the past 10 years has been characterized by a cyclical growth. Both of them maintained a double-digit growth rate in 2010, 2013 and 2016, and then entered an adjustment period. Therefore, there will be market sales for the entire year of 2017. It is likely that it will return to the slightly increased state."

In addition, Xu Haidong said that in the 2017 China automobile market, the share of passenger car market is 17% higher than in 2008, reaching 87%, and the trend of weakening strong business is more obvious. In 2017, the growth of commercial vehicles has resumed, and it is expected that the proportion of business operators will be maintained at around the level of last year."