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China PV registration reaches 23.05 million units in 2016

According to data from CBU Analytics, China’s registration volume of passenger cars, MPVs and SUVs reached 23.05 million units in 2016, up 20.74 percent year-on-year. In December, registration volume reached 3.24 million units, up 53.66 percent. Passenger vehicles with engine displacement of 1.6L and below took up 72.56 percent of total registration volume in December and 69.26 percent of total registration volume in 2016, as consumers raced to purchase vehicles to enjoy the discounted purchase tax rate of 5 percent, which went up to 7.5 percent starting in January, likely affecting early 2017 sales.

 

In December, the top 10 passenger vehicle groups by end-user sales were SAIC, Dongfeng, FAW, Chang’an, BAIC, GAC, Great Wall, Geely, Chery and Brilliance. Their combined sales reached 21.71 million units, up 20.50 percent, accounting for 92.89 percent of the total domestic passenger vehicle registration volume. Geely Group end-user sales increased 47.55 percent, driven by Geely brand’s 60.42 percent growth and Volvo Cars domestic models’ 46.20 percent growth.  

The top 10 passenger vehicle brands in end-user sales were Volkswagen, Honda, Buick, Hyundai, Toyota, Chang’an, Nissan, Ford, Haval and Geely. Their combined sales reached 12.63 million units, up 20.69 percent, accounting for 52.43 percent of the total passenger vehicle registration volume.

Volkswagen brand increased 18.67 percent to 3.09 million units, 2.4 times the registration of runner-up Honda, which saw volume increase 31.61 percent to 1.27 million units thanks to new models. Driven by the CS75 1.5T, sales of Chang’an increased 25.70 percent to 1.11 million units. Haval sales increased 35.17 percent to 845,316 units, powered by the Haval H6 Coupe 1.5T. With added several new SUV models, Geely brand sales increased 60.42 percent to 779,406 units. Sales of Toyota decreased slightly by 0.26 percent to 1.12 million units, and combined sales of the Corolla Hybrid and Levin Hybrid reached 65,594 units. 

The top 10 provinces in registration volume were Guangdong, Jiangsu, Shandong, Henan, Zhejiang, Hebei, Sichuan, Hubei, Hunan and Anhui. Their combined sales reached 14.72 million units, accounting for 61.12 percent of the national total. SUVs accounted for 35.92 percent of the registration volume.

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