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Zero Growth: China PV end user sales up 0.29 percent in 2017

According to data from CBU Analytics, China’s registration volume of passenger cars, MPVs and SUVs in 2017 reached 24.17 million units, up just 0.29 percent year-on-year. Passenger vehicles with engine displacement of 1.6L and below decreased to take up just about two-thirds of the total PV registration volume. The preferential policy that halved the purchase tax starting in October 2015 helped regain market growth momentum then but also pulled forward potential demand. As the purchase tax went back to the normal 10 percent starting on January 1, 2018, we might see negative growth for 2018. 

In 2017, Chinese brand passenger vehicle end-user sales increased 2.99 percent, far slower than its 2016 growth of 30 percent, with SUVs taking up 59.29 percent of the volume. Meanwhile, its growth was exceeded by those of German and Japanese brands. This showed that Chinese brands relied more on the purchase tax cut policy than other brands. German brands increased 4.97 percent, Japanese brands increased 8.04 percent, British brands increased 32.34 percent driven by SUVs and American brands decreased 0.89 percent while Swedish brand Volvo Cars increased 18.87 percent. However, Korean and French brands fell 33.58 and 26.08 percent respectively, while Czech brand Škoda decreased 10.73 percent.

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