CPCA: New Energy Vehicle Exports Showed Rapid Growth in August

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(Source: Macquarie)

China Passenger Car Association (CPCA) today announced a market analysis report for its passenger vehicles for the month of August. The report showed that exports of their new energy vehicles increased substantially throughout the month.

The report showed that Tesla China, SAIC Motor, BYD, and AtCHI exported 31,379, 4,074, 781 and 103 vehicles in August. Belgium has since become China’s largest auto export market in 2021.

In August, retail sales of passenger vehicles in China reached 1.453 million units, down 14.7% year-on-year. Domestic consumption factors have had little impact on the vehicle retail market, but the resurgence of the coronavirus epidemic in Malaysia has led to a sudden interruption in the supply of chips during the month of August, which, in turn, impacted Chinese vehicle manufacturers.

In August, 140,000 passenger vehicles were exported to overseas markets, up 182% year-on-year, in which new energy vehicles accounted for 25.9%. 1.484 million passenger vehicles were produced during the same month, down 11.2% percent year on year. Although the chip shortage has affected the pace of production overall, several independent brands, traditional automobile enterprises and some new energy automobile enterprises in China have strengthened their supply chain advantages and achieved good performance with month-on-month production growth in August.

The demand for a second car for families with children and for licensed college students increased substantially. This increase in demand led to the sale increase of economical electric cars.

Wholesale sales and retail sales of new energy passenger vehicles reached 304,000 units and 249,000 units in August, respectively.

In August, the sales volume of Chinese EV makers such as Li Auto, Xpeng, NIO, and HOZON, were excellent. In the IAA Mobility conference recently held in Munich, Xpeng and other Chinese EV makers have been displaying their latest products, which is helping to increase exports of Chinese new energy vehicles.

As the number of confirmed cases in Malaysia has gradually dropped from its peak time, CPCA expects that the chip supply will be gradually improved in mid-to-late September.

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At the same time, CPCA stressed the importance of data safety management. With the powerful information collection functions of in-car microphones and cameras, personal privacy under big data is likely to be fully mined, bringing huge commercial value and risks at the same time.

The Cyberspace Administration of China (CAC) and other departments recently published a document entitled “Several Provisions on the Management of Automobile Data Security (Trial),” which will take effect on October 1, 2021. According to this document, automobile data processors should follow the rules of in-car processing, default non-collection, applicable precision range, data masking and other practices, to reduce disorderly collection and illegal abuse of automobile data.