According to the statistical analysis of the China Association of Automobile Manufacturers, in the first quarter, the automobile industry entered a period of promotional policy switching, the withdrawal of the traditional fuel vehicle purchase tax preferential policy, and the end of new energy vehicle subsidies caused early consumption at the end of last year. The succession policy is still unclear, and the price reduction of new energy since the beginning of the year and the wave of promotions since March have caused fluctuations in the end market, and the overall economic operation of the auto industry is under greater pressure.
It should also be noted that the bright spots in the auto market last year continued in the first quarter of this year. New energy vehicles continued to maintain rapid growth on the basis of a high base in the same period, with a market share of 26.1%. Auto exports remained at a high level. Exports increased by 70.6% year-on-year; the share of Chinese brands has steadily increased. With the continuous recovery of my country's economy, infrastructure projects have started one after another, coupled with the continued good performance of overseas exports, the commercial vehicle market has shown signs of recovery.
In March, the production and sales of automobiles were 2.584 million and 2.451 million respectively, an increase of 27.2% and 24% month-on-month and 15.3% and 9.7% year-on-year.
From January to March, the production and sales of automobiles were 6.21 million and 6.076 million respectively, a year-on-year decrease of 4.3% and 6.7% respectively, a slight decline from the same period. On the whole, the domestic effective demand in the auto market has not been fully released.
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