China's locally-produced PV wholesale volume in July down by 2.7% YoY

China's PV (hereby only refers to the PV locally-produced in China) wholesale volume in July amounted to 1,557,566 units, falling 2.7% year on year and sliding 9.2% month on month, according to the China Passenger Car Association (CPCA).

To offer a more valuable data covering a wider range, Gasgoo has added the number of minibus from May on.

China's PV (hereby only refers to the PV locally-produced in China) wholesale volume in July amounted to 1,557,566 units, falling 2.7% over a year ago, versus 8.4% year-on-year decrease in June sales volume, according to the China Passenger Car Association (CPCA).

To offer a more valuable data covering a wider range, Gasgoo has added the number of minibus from May on.

Compared with the wholesale volume for June, China’s PV market still faced a decline of 9.2%.

In July, wholesale volume of cars, MPVs and minibuses fell 8.0%, 18.6% and 2.6% from the previous year respectively. Nevertheless, SUV sales climbed 6.8%, the only bright spot for China's July PV market.

For the first seven months, China's automobile manufacturers have sold a total of 11,693,175 PVs, posting a double-digit decrease of 12.6%.

Among the top 10 automakers by PV wholesale volume in July, Volkswagen’s two joint ventures in China still occupied the champion and runner-up places with their ranking reversed from the previous month. SAIC-GM was still the second runner-up.

Besides, Geely Auto, outnumbering Dongfeng Nissan last month, ranked fourth on the list. Compared with the rankings for June, Dongfeng Honda moved up two places to the seventh. SAIC Motor PV returned the top 10 list after May.

As for the terminal consumption market, China's PV retail sales in July shrank 5.3% year on year, while fell 16.1% month on month. Since many regions started implementing China Ⅵ Emission Standard from July 1, a large amount of market demands had been overdrawn before the effective date as dealers scrambled to clear inventories of China Ⅴ vehicles. Moreover, China Ⅵ vehicles are evidently expensive than China V cars to be liquidated, which further discouraged consumers' purchase desire, the CPCA explained.

The association also reported that the national PV outputs reached 1,528,120 units, down by 11.3% from a year ago. Meanwhile, year-to-date PV outputs were decreased by 15.5% compared with prior-year to 11,470,742 units.