China Automobile Dealers Association: Automobile consumption index in December 2020 was 78.9

China Automobile Dealers Association: Automobile consumption index in December 2020 was 78.9

On January 4, 2020, the China Automobile Dealers Association released the latest "Automobile Consumption Index": the automobile consumption index in December 2020 was 78.9, a slight decrease from the previous month, basically at the same level. In the year-end peak season of 2020, the sales volume of the automobile market grew rapidly, and the market demand continued to grow. With the last small climax of the auto market at the end of 2020, the demand of my country's automobile market continued to grow, and the automobile market has basically recovered. With the control of the epidemic and the launch of vaccines, before the Spring Festival, residents' consumption confidence remained stable, consumer demand will be gradually released, and automobile consumption is expected to continue to grow.

In recent years, joint venture brands have gradually improved their layout in entry-level SUVs, and the prices of luxury and joint venture brands have dropped, gradually squeezing out market space. Domestic brands are actively launching high-end products while taking the high-end route, while also actively launching products for the mid- and low-tier city markets. It can be foreseen that competition in the automobile market will be more intense in 2021.

Automobile consumption index trend chart

Judging from the sub-indices that make up the automobile consumption index, the demand sub-index in December 2020 was 93.1, up from the previous month.

In January 2020, as the automobile market continues to recover and the pre-Spring Festival effect comes, the demand in the automobile market will increase to a certain extent if the epidemic is further controlled.

Automobile Consumption Index-Demand Sub-Index Trend

The store entry index in December 2020 was 91.1, an increase from the previous month. As the Spring Festival approaches, holiday promotions and other factors have led to an increase in consumers' offline car viewing.

Automobile Consumption Index-Store Entry Index Trend Chart

The purchasing index in December 2020 was 89.6, and consumers' actual purchasing intention increased

Automobile Consumption Index-Purchase Sub-Index Trend Chart

In 2020, due to the impact of the COVID-19 pandemic, my country's macroeconomics, industrial economy and residents' consumption were all affected to a certain extent. With the policy stimulus from various regions and the joint efforts of manufacturers and dealers, the automobile market sales gradually recovered in the second half of the year, and the popularity of the new energy market also gradually increased, driving sales growth. Sales in the fourth quarter also achieved good results, but overall it was still down year-on-year. At the same time, many new cars of many brands were launched in the fourth quarter, including mid-to-high-end new energy vehicles, which will have a certain promoting effect on automobile sales in the coming year.

So far, the epidemic has recurred in many parts of China, but rapid and effective epidemic control has stabilized residents' consumption confidence. In 2021, with the further recovery of the macro-economy, the recovery of various industries and international trade, the effect of stabilizing employment and income will gradually emerge, residents' consumption will continue to pick up, and automobile consumption will gradually stabilize.

In addition, January is before the Spring Festival, and market demand will be released in large quantities due to the pre-holiday effect; various brands will actively carry out promotional marketing activities before the Spring Festival to stimulate demand growth; residents also have a greater willingness and ability to consume before the Spring Festival. Taking all the above factors into consideration, it is expected that the market sales in January 2021 will be at the same level as in December.

<<:  China Passenger Car Association & CAM: Passenger car market product competitiveness index is 91.1 in November 2020

>>:  As online music competition intensifies, Baidu may be forced to withdraw

Recommend

Hurry up! These plants at home can be kept alive by picking a leaf!

Spring is the season for everything to grow. Thes...

Attention! Heavy rain + thunderstorm + hail is coming!

Today (June 14), heavy rainfall continues in the ...

Is oil derived from plants or animals?

1. Oil – Fossil Fuel In daily life, we often ment...

Is Baidu bidding hosting reliable? Which bidding hosting service is reliable?

Is Baidu bidding hosting reliable? Which bidding ...

A brief history of underwear advertising

Bras, like sex, are topics that Chinese women are...

How to increase the average duration of website visits?

The average browsing time of website users is one...

In future wars, small animals can also play a big role

Humans are the only intelligent creatures on Eart...