Annual sales volume of Chinese brand passenger vehicles exceed 10m units in 2016

Ministry of Industry and Information Technology recently released the 2016 national auto industrial data. Chinese brand passenger vehicles has a total sales volume of 10.53m units and increases 20.5%, which is the first time that Chinese brand passenger vehicles sell more than 10m units, accounting for 43.2% of total passenger vehicles. The market share rises 2 percentage points than the same period of last year.

According to data from CAAM, Chinese auto industry faces a relatively large growth in 2016, with the production and sales volumes making historical record. Total annual production and sales volume reach 28.12m and 28.03m units, increasing 14.5% and 13.7% respectively with the same period of last year, 11.2 and 9.0 percentage points higher than the same period of last year. This is the eighth consecutive year that China ranks first among global auto sales market.

Last year, the production and sales volume for passenger vehicles in China reach 24.42m and 24.38m units, increasing 15.5% and 14.9% respectively, which are 1.0 and 1.2 percentage points higher than the overall growths. The rapid growths contribute 92.3% and 94.1% to the industrial growth respectively.

SUV and MPV have outstanding performances. Last year, cars sold 12,15m units, increasing 3.4%. SUV vehicles sold 9.05m units, increasing 44.6%. MPV vehicles sold 2.5m units and grew 18.4%. Crossover passenger vehicles sold 684,000 units, decreasing 37.8%.

Influenced by the preferential policy of purchasing policies, passenger vehicles with displacement no larger than 1.6L sold 17.61m units in 2016, increasing 21.4% with the same period of last year and accounting for 72.2% of total passenger vehicle sales volume. It is expected that the new auto market will keep a medium-speed growth in 2017.