The Secretary-General of the Federation of Automobile Association Cui Dongshu said in an article today that in December 2022, the automotive industry revenue of RMB 917.4 billion, down 4% year-on-year; cost of RMB 771.6 billion, down 5%; profit of RMB 55.7 billion, up 3% year-on-year; the profit margin of the automotive industry is 6.1%, which is still low compared to the average level of the profit margin of 7% for the whole industrial enterprises.
According to the report, from January to December 2022, the auto industry revenue of 929.0 billion yuan, revenue increased by 6.8%; cost of RMB 798.33 billion, which increased by 7%; profit of RMB 532 billion, profit overall increased by 1% year-on-year. 2022 auto industry profit overall performance is not strong, the sales margin is only 5.7%, which is a larger decline than the historically normal level.
According to the CCA, in 2022, automobile production and sales will be 27.021 million units and 26.864 million units, up 3.4% and 2.1% year-on-year, respectively.
In terms of new energy vehicles, China’s new energy vehicles continued to grow explosively in 2022, with production and sales of 7.058 million units and 6.887 million units respectively, up 96.9% and 93.4% year-on-year, with a market share of 25.6%.
The CCA previously looked ahead to 2023 and said it believes that the implementation of relevant supporting policy measures, will further stimulate the market players and consumer vitality, for the annual economic upturn full of confidence. Coupled with the new year chip supply shortage and other issues that are expected to be more alleviated, it is expected that the 2023 auto market will continue to show a stable to good development trend, showing about 3% growth.
