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8月份中国车市运行回顾：汽车销量环比有所回暖， 出口维持高增速
CAITONG SECURITIES·2024-09-18 03:23

Investment Rating - The industry rating is not explicitly stated in the provided documents, but the overall sentiment appears to be positive based on the performance metrics discussed. Core Insights - Automotive sales showed a month-on-month recovery, with production and sales in August reaching 2.492 million and 2.453 million units, respectively, representing a month-on-month increase of 9% and 8.5% [2] - Domestic sales of passenger vehicles in August were 1.942 million units, up 8.3% month-on-month, while exports reached 511,000 units, marking a 9% month-on-month increase and a 25.4% year-on-year increase [2] - The market share of Chinese brands in passenger vehicles reached 66.9% in August, an increase of 10.1 percentage points [2] - New energy vehicle (NEV) sales in August saw significant year-on-year growth, with production and sales reaching 1.092 million and 1.1 million units, respectively, representing a year-on-year increase of 29.6% and 30% [3] - The export of NEVs was 110,000 units in August, reflecting a year-on-year growth of 22% [3] Summary by Sections Automotive Sales Performance - In August, the overall automotive industry produced and sold 2.492 million and 2.453 million vehicles, respectively, with month-on-month growth of 9% and 8.5% [2] - For the first eight months of the year, production and sales totaled 18.674 million and 18.766 million units, with year-on-year growth of 2.5% and 3% [2] Passenger Vehicle Market - Passenger vehicle production and sales in August were 2.221 million and 2.181 million units, both showing a month-on-month increase of 9.4% [2] - The market share of Chinese brands in the passenger vehicle segment has been steadily increasing, reaching 66.9% in August [2] Commercial Vehicle Market - Commercial vehicle production and sales in August were 271,000 and 272,000 units, with month-on-month increases of 5.7% and 1.4% [2] New Energy Vehicles - NEV sales in August reached 1.1 million units, with a market share of 44.8% [3] - The fastest-growing segment within NEVs was plug-in hybrid vehicles, which saw an 81.6% year-on-year increase in sales [3]