Xinhua News Agency, Beijing, July 29 (Reporter Ren Fang) Zhang Xiaojian, Vice Chairman of China Machinery Industry Federation, said on the 29th that the monthly production and sales volume of Chinese automobiles in recent months showed a downward trend compared with the previous month, and the stock volume was in line with the previous year. Compared with the increase in the same period, the price of cars has been continuously reduced, and the decline in corporate profit margins has been inevitable. According to statistics from the Federation of Machinery Industry, the profit of the Chinese auto industry in the first half of the year was 44.336 billion yuan, an increase of only 13.68% year-on-year, and the growth rate was down by 90.31 percentage points from the same period of last year. Zhang Xiaolu believes that the profit growth of the auto industry has slowed down significantly and has become an important reason for the decline in profit growth of the entire machinery industry in the first half of the year. In the first half of the year, the automobile industry produced 2,744,500 vehicles, of which 1,247,800 were passenger cars, an increase of 26.93% and 34.25% respectively from the same period of last year, both of which were significantly lower than the same period of last year. According to Zhang Xiaoyu, the inventory of auto inventories is generally within one week of the peak sales season. At present, the inventory of some autos has reached two or three weeks, which has caused tremendous pressure on manufacturers and sellers. Zhang Xiaolu said that this situation will change in the second half of the year, mainly through measures such as reducing production, adjusting product mix, and reducing the price of old products. Zhang Xiaoji pointed out that in terms of the whole year, due to the relatively high growth in the first half of the year, the output of automobiles and cars had reached or exceeded 50% of the annual target set at the beginning of the year, even if the growth rate slowed down in the second half of the year, the year saw production and sales. It is expected that about 20% growth can still be achieved, and the vehicle output can also exceed 5 million.
Zhang Xiaokai: China's auto industry profits are inevitable
Xinhua News Agency, Beijing, July 29 (Reporter Ren Fang) Zhang Xiaojian, Vice Chairman of China Machinery Industry Federation, said on the 29th that the monthly production and sales volume of Chinese automobiles in recent months showed a downward trend compared with the previous month, and the stock volume was in line with the previous year. Compared with the increase in the same period, the price of cars has been continuously reduced, and the decline in corporate profit margins has been inevitable. According to statistics from the Federation of Machinery Industry, the profit of the Chinese auto industry in the first half of the year was 44.336 billion yuan, an increase of only 13.68% year-on-year, and the growth rate was down by 90.31 percentage points from the same period of last year. Zhang Xiaolu believes that the profit growth of the auto industry has slowed down significantly and has become an important reason for the decline in profit growth of the entire machinery industry in the first half of the year. In the first half of the year, the automobile industry produced 2,744,500 vehicles, of which 1,247,800 were passenger cars, an increase of 26.93% and 34.25% respectively from the same period of last year, both of which were significantly lower than the same period of last year. According to Zhang Xiaoyu, the inventory of auto inventories is generally within one week of the peak sales season. At present, the inventory of some autos has reached two or three weeks, which has caused tremendous pressure on manufacturers and sellers. Zhang Xiaolu said that this situation will change in the second half of the year, mainly through measures such as reducing production, adjusting product mix, and reducing the price of old products. Zhang Xiaoji pointed out that in terms of the whole year, due to the relatively high growth in the first half of the year, the output of automobiles and cars had reached or exceeded 50% of the annual target set at the beginning of the year, even if the growth rate slowed down in the second half of the year, the year saw production and sales. It is expected that about 20% growth can still be achieved, and the vehicle output can also exceed 5 million.