China's locally-produced PV wholesale volume in June down by 8.4% YoY

China's PV (hereby only refers to the PV locally-produced in China) wholesale volume in June amounted to 1,713,171 units, falling 8.4% year on year, while climbing 9.4% month on month, according to the China Passenger Car Association (CPCA).

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Apart from the MPV sector, the car, SUV and minibus sectors all posted growth in June wholesale volume compared with a month ago. However, none of them achieved positive increase over the year-ago period.

For the first half of 2019, PV wholesale volume in this country totaled 10,131,845 units, a year-on-year decrease of 14%.

Unlike the sweeping year-on-year downturn in terms of monthly wholesale volume, the retail sales of cars, SUVs and minibuses were all higher than that of a year ago, making the total PV deliveries nationwide rise 4.9% from the previous year.

The association said car dealers were reducing their vehicle procurement from automakers because they were forced to clear the inventories of “China 5” vehicles before local governments started to implement the China 6 Emission Standard from July 1 on. Meanwhile, as part of efforts to liquidate inventories, automobile dealers also promoted a number of incentives for consumers so that retail sales in June grew upward over a year earlier.

For the month of June 2019, FAW-Volkswagen outsold SAIC-GM, taking the runner-up place by PV wholesale volume. Among the top 3 automakers, SAIC-GM was the only one who saw month-on-month decrease.

The fourth to sixth places were still occupied by Dongfeng Nissan, Geely Auto and SAIC-GM-Wuling with the sequence remaining the same as a month ago.

In addition, FAW-Toyota dropped by three places to the tenth in June from the seventh in May. SAIC Motor PV was not included on the top 10 list this time, while Changan Automobile moved up to the 8th place.