China vehicle sales succumb to COVID-19 in March 2022, observes GlobalData

China vehicle sales succumb to COVID-19 in March 2022, observes GlobalData

11.04.2022: ANALYST COMMENT Following the news that China vehicle sales fell by 11.7% in March after two months of increase, Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading data and analytics company, offers his view:


ANALYST COMMENT

Following the news that China vehicle sales fell by 11.7% in March after two months of increase, Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading data and analytics company, offers his view:


“In contrast to a positive jump of 18.7% in February, vehicle sales in China fell by 11.7% to 2.2 million units in March 2022, following the production and supply disruptions caused by the new wave of the COVID-19 which led to strict lockdowns across regions in the country.


“Commercial vehicles witnessed an overall decline of 43.5%. Passenger vehicles, on the other hand, declined by 0.6% as SUVs and compact cars managed to maintain volumes. GlobalData’s March edition to LV Sales Forecast also maintained a conservative growth in March (1% Y-o-Y) compared to double-digit Y-o-Y growth in February. The sales results are in line with GlobalData’s expectations.


“The ongoing COVID-19 led disruptions, chips supply constraints and macroeconomic downside risks due to ongoing military conflict between Russia and Ukraine portrays a gloomy picture of vehicles sales in the country.


Several automakers including Tesla, Nio, VW and Toyota have announced temporary halt of production starting mid-March. The production cut announced by OEMs due to supply disruptions are expected to continue to impact domestic deliveries in April. GlobalData forecasts April LV sales to grow 2% year-on-year in 2022.”



GlobalData also photo

Permanent-URL: http://www.automobilsport.com/china-vehicle-sales-covid19-march-2022-globaldata---236226.html

11.04.2022 / MaP

More News

CUPRA’s success story continues with global expansion in 2022
08.04.2022
    Brand continues strong commitment to Mexico with new CUPRA Garage in Cancun    Expansion in Latin America also planned, with launches in Colombia and Peru this year    CUPRA to expand into Asia-Pacific region, arriving in Australia mid-2022    The brand is also bri more >>
Genesis opens Salon Privé London with European unveiling of the GV60
08.04.2022
    European unveiling of Genesis GV60 at inaugural Salon Privé London    Debut of the new Korean brand’s first all-electric car    GV60 is the first model in the luxury brand’s electrification journey    Highlight of the three day luxury car event, Royal Hospital Chelsea 2 more >>
DS Automobiles launches ‘DS Digital Service Record’ to help owners keep track of vehicle maintenance
08.04.2022
    DS Digital Service Record is a digitally-backed maintenance record that helps owners plan their servicing and maintenance    Accessible via the MyDS App, the Digital Serv more >>
Global automakers drive towards affordable EVs boon for Asia EV market in long-term, observes GlobalData
08.04.2022
Following the news that US automaker General Motors (GM) and Japanese Honda Motors Co. plan to develop a series of low-priced electric vehicles (EVs);Bakar Sadik Agwan, Senior Automotive Consulting Analyst at GlobalData, a leading data and analytics company, offers more >>
Caton - the new leader in luxury iconic products
07.04.2022
    All-new brand specialising in the creation of ultra-exclusive luxury products teases first creation, a two-seater British sports car    Caton occupies a unique position combining state-of-the-art, OEM-grade design and engineering with traditional handcrafting skills    Caton will focus on the enhancemen more >>
Porsche strengthens commitment to industrial production of eFuels
07.04.2022
Investment of USD 75 million in e-fuel manufacturer HIF Global LLC•    Porsche acquires approximately 12.5 percent of holding company HIF Global LLC•    Investment in the development of industrial eFuel production facilities in Chile, USA and Australia•    eFuels more >>
Easy-to-maintain and Sustainable Materials Add Value to Customers - A Global Automotive Survey by Asahi Kasei
06.04.2022
In November 2021 Asahi Kasei, a diversified Japanese multinational company, conducted its third "Automotive Interior Survey" together with Cologne, Germany-based market research institute SKOPOS in the four major automotive markets: the USA, Germany, China and Japan. 1,000 car users of varying income levels in each market responded to questions reg more >>
Finn Auto hosts the German premiere of Aiways U6ion
06.04.2022
 •    Debut of the new SUV-Coupé concept at Burda Studios, Munich: everyone invited to go electric!•    Stylish, sporty, and sustainable concept car attracts new European audiences to ecomobility•    Second stop in Aiways’ roadshow showcases the U6ion in Germany before visiting a more >>
Ferrari 296 GTB vs Glickenhaus 004S/CS
06.04.2022
Dan Neil reviews the Ferrari 296 GTB Plug-in Hybrid in today's WSJ. It's well worth reading."Because the car is a plug-in hybrid, the 296 GTB can maintain (819 HP) for only two laps, in what Ferrari calls Qualify mode. After that, the output falls more >>
From the Peugeot 202 to the 3008 Hybrid, the French Gendarmerie’s long history with PEUGEOT
05.04.2022
After acquiring Peugeot 5008s in 2021, the Gendarmerie Nationale has just placed an order for 395 Peugeot 3008 Plug-in Hybrids*. The next volume in Peugeot and the Gendarmerie’s long history, which began just after the Second World War...   more >>
Sustainability made simple: All-New Kia Niro to accelerate EV transition
05.04.2022
    All-new Niro sets new benchmark for competitive CUV segment merging innovation with high-tech user convenience features    Choice of three state-of-the-art electrified powertrains offer more customer choice to ease the transition to electric mobility    Well-appointed premium-effect recycled cabin more >>
Thomas Müller joins Jaguar Land Rover as Executive Director of Product Engineering
05.04.2022
    Thomas Müller appointed as Jaguar Land Rover’s Executive Director of Product Engineering with immediate effect    Thomas brings a 20-year autom more >>
All-New 2023 Honda HR-V Steps Out with Youthful, Athletic Styling
04.04.2022
    Stylish 2nd-generation HR-V features a low horizontal beltline, a longer hood, larger grille, wider stance and a sleek roofline       New HR-V will be more refined, confident and fun-to-drive with substa more >>
CUPRA opens order books for e-Boost derivatives alongside finance options for CUPRA Born
02.04.2022
    CUPRA has announced finance options for new CUPRA Born alongside model pricing updates and the arrival of e-Boost derivatives     Prices for the 58kWh 204PS (150kW) battery CUPRA Born start at £34,715 OTR, wit more >>
Toyota Motor Europe further consolidates sales, marketing, after sales business operations for Central Europe markets
01.04.2022
·       Toyota Motor Europe will integrate all sales, marketing and after sales business from former Hungary-based Toyota Central Europe (TCE) together with its operations at Toyota Motor Poland, Toyota’s distributor for Poland more >>
First Bizzarrini 5300 GT Corsa Revival Hits the Road
01.04.2022
The reborn Bizzarrini brand, founded by arguably the most talented automotive engineer and designer the world has ever seen, has achieved its next significant milestone. The first Bizzarrini 5300 GT Corsa Revival prototype – the authentic rec more >>
Jaguar Land Rover announces 2030 sustainability targets
01.04.2022
    Jaguar Land Rover commits to reducing greenhouse gas emissions across its own operations by 46 per cent, and 54 per cent per vehicle across its value chain, by 2030    Commitments are approved by the Science Based Targets initiative (SBTi), confirming the company’s pathway to a 1.5°C emissions reduction in line with the more >>
Czinger Vehicles expands dealer network internationally
01.04.2022
... aligning with H.R. Owen as its exclusive partner in the U.K.Czinger Vehicles is expanding its global reach, announcing H.R. Owen as its first international retail partner and exclusive Czinger dealer in the U.K. The alignment opens u more >>
Lotus Eletre: the world's first electric Hyper-SUV
30.03.2022
Introducing the all-new and all-electric Lotus Eletre, a striking and progressive Hyper-SUV and the first of a new breed of pure electric SUVs. With the world premiere of this car, the ongoing transformation of Lotus – from a UK sports car company to a truly global performance car business and brand – has reached its most significant milestone yet.   more >>
Growatt makes available its new battery ready inverter
30.03.2022
Growatt, the global top 2 storage hybrid inverter supplier announced the availability of its future-proof battery-ready PV inverter, the MOD 3-10KTL3-XH series in the European market, catering to the quickly growing demands for storage systems in Europe. more >>
Tanzania’s renewable power market to grow at 16.8% CAGR from 2021 to 2035
29.03.2022
...driven by mini-grids and rural electrification, says GlobalDataInstalled capacity for renewables in Tanzania increased from 69 megawatts (MW) in 2010 to 127 MW in 2021, at a compound annual growth rate (CAGR) of 5.7%, according to GlobalData. more >>
Pilot project for more flexible working hours in Audi production
29.03.2022
   An innovative working-time model enables shift workers to also do part-time shifts in clocked vehicle production        To advance an important idea and modern teamwork culture throughout the company        The pilot project is the only one of its kind in Germany and it is setting ne more >>
Mercedes-Benz wins landmark road monitoring programme in the Netherlands
29.03.2022
Mercedes-Benz vehicle data and advanced software tools push efficiency and safety to a next level with large-scale digital infrastructure agreementMercedes-Benz has been awarded a far-reaching contract for road monitoring more >>
More than 90 companies and 60 countries will participate in Smart City Expo Doha
29.03.2022
From today Tuesday until Wednesday, Msheireb Downtown Doha will allocate the second edition of Smart City Expo Doha (SCED), the main urban innovation event of its region. Organized by the Government of Qatar's Ministry of Communications and Information Te more >>
The All-New Toyota GR Sports car World Premiere April 1, 2022 - with video
28.03.2022
TOYOTA GAZOO Racing will unveil the All-New GR Sports car in the U.S. streaming on Thursday, March 31, at 9:30 p.m. EDT, and on April 1,10:30 a.m. JST. Ahead of this world premiere, TGR has released preview images of the All-New GR Sports car, please join us for full reveal. more >>
OptimumG, the essential binding agent in automotive industry and motorsports
25.03.2022
  You don’t see it on the racetracks, but OptimumG is everywhere, and without this company, the motorsports results could be much different.What is OptimumG, who is his creator and how do teams and manufacturers benefit from its skills?We more >>
CUPRA will expand its line up with all-new electrified SUV, to be launched in 2024
23.03.2022
    CUPRA is set to grow its electrified vehicle line up with a brand-new SUV accelerating its growth in the highly competitive compact SUV segment    The all-new electrified SUV will be available in different powertrains, including mHEV and PHEV versions    The SUV will integrate a new generation PHE more >>
The new Mercedes-AMG GT Track Series: limited edition, unlimited performance
23.03.2022
It is the most powerful customer sports car ever to have been developed by Mercedes‑AMG: the Mercedes‑AMG GT Track Series, conceptualised for use during track days and club sport events. With the exclusive limited edition, the Mercedes‑AMG motorsport department is celebrating the 55th anniversary of the Affalterbach-based company in a very special way. more >>
Winter testing: The new fully electric MINI 3-Door Hatch on snow and ice
23.03.2022
The fully electric edition of the new MINI 3-Door Hatch is now completing a major chapter in its series development process as it undergoes driving dynamics tests on the snow and ice at the BMW Group's winter test centre in Arjeplog, Sweden. more >>
Honda Opens New World-Class Wind Tunnel in Ohio
22.03.2022
    State-of-the-art facility ushers in new era of auto development testing capabilities    Wind tunnel will play key role as Honda prepares for electrified futureHonda today op more >>
One of a kind: the 911 Classic Club Coupe for the Porsche Club of America
22.03.2022
Factory one-off based on a 911 Carrera with GT3 technology “No. 001/001” – the badge on the dashboard sums up the rarity of this Porsche model. Guided by the principles of the newly launched Porsche Sonderwunsch programme, the experts at Porsche Classi more >>
Ford Confirms F-150 Lightning Final EPA-Estimated Range For All Models
22.03.2022
....Ahead Of Customer Deliveries In The SpringIn Ford’s efforts to continuously improve over time, some F-150 Lightning customers will benefit from an increase in range ahead of launch this spring. The all-new, all-electric F-150 Lig more >>
QUANTRON improves the ESG rating of companies
22.03.2022
•    ESG (Environmental, Social, Governance) ratings are increasingly influencing the evaluation of companies in a wide range of industries.•    Companies can improve their ESG rating with the help of climate-friendly zero-emission vehicles from Quantron AG.•    Quantron AG sets a good more >>
Mulliner Bespoke Commissioning: Bentayga Space Edition
18.03.2022
    Bentley Orlando commissions a space-themed Bentayga Speed    Cypress exterior accented with Orange Flame    Interior theme includes Galaxy stone fascias and waistrails blending seamlessly with a unique fluted interior    Orange micro-piping matches exterior highlights&nb more >>
Employee car benefits provider Tusker on course to achieve Net Zero by 2023
18.03.2022
   Tusker is on course to achieve Net Zero by 2023    Milestone achievement hit in offsetting a quarter of a million tonnes of carbon    Since 2013, the carbon footprint has been offset for each car delivered    All metrics fully verified by Carbon Footprint Ltd more >>
296 GT3, the first sketches of Ferrari’s future in GT racing
17.03.2022
Ferrari’s future on the GT racing scene takes shape and develops around the volumes of the 296 GTB, redefining it according to track and performance requirements and giving life to the 296 GT3.This model takes up the legacy of t more >>
Kia America and Currently mobile charging service announce partnership to “recharge” electric vehicle ownership
15.03.2022
Kia America is partnering with Currently mobile charging service to provide its electric vehicle (EV) owners with an on-demand concierge service now available in three important California markets: Los Angeles, San Francisco, and San Jose. Based on customer reception of this pilot program, future expansion to cities around the country will be considered. more >>
Honda Leads Auto Industry with Eight ENERGY STAR Plants in America
15.03.2022
    All Honda mass production auto plants in the U.S. and Canada earned 2021 U.S. Environmental Protection Agency ENERGY STAR Certification for Outstanding Energy Efficiency    Honda's Ohio Data Center and North American Quality Center also earned 2021 ENERGY STAR certification    Honda is the only au more >>
Honda to Install Stationary Fuel Cell Power Station on California Campus
15.03.2022
...as First Step Toward Commercialization of Zero-Emission Backup Power Generation    Proof of concept FC power station will begin testing in early 2023 through operation as backup power    Stationary FC power more >>
2001-2022 copyright automobilsport.com