According to the data recently released by the China Association of Automobile Manufacturers, the production and sales of automobiles in China in August were 2 million and 2.103 million, respectively, with a year-on-year decline of 4.4% and 3.8%, respectively, and a negative year-on-year growth in sales for the second consecutive month.

From January to August, China's automobile production and sales were 18.135 million and 18.096 million, respectively, with a year-on-year growth of 2.8% and 3.5%, respectively, 0.7 and 0.8 percentage points lower than that of the previous seven months.

According to CAAC, the growth rate of automobile sales has continued to fall recently, but the overall performance is in line with the expectations at the beginning of the year.

Specifically, the production and sales of passenger cars in August were 1.705 million and 1.79 million, respectively, down 4.7% and 4.6% year on year. From January to August, the production and sales of passenger cars were 15.319 million and 15.193 million, respectively, up 1.9% and 2.6% year on year.

Among the four types of passenger cars, the production and sales of cars increased by 1.8% and 3.7% year on year respectively; SUV production and sales increased by 7.2% and 6.2% year on year respectively; The production and sales of MPV decreased by 16.7% and 13.8% year on year respectively; The production and sales of cross type passenger cars decreased by 16.9% and 19.3% respectively year on year.

In August, the sales volume of commercial vehicles continued to grow, but the growth rate declined significantly. In the same month, the production and sales of commercial vehicles were 295000 and 313000 respectively, with a year-on-year decrease of 2.4% in output, a year-on-year increase of 1.1% in sales, and a year-on-year decrease of 15.6 and 11.7 percentage points in growth. From January to August, the production and sales of commercial vehicles were 2.816 million and 2.903 million respectively, with year-on-year growth of 7.7% and 8.7% respectively.

The new energy vehicle market continues to grow strongly against the trend. In August, the production and sales of 99000 vehicles and 101000 vehicles were completed, up 39% and 49.5% year on year respectively. From January to August, the production and sales of 607000 and 601000 vehicles were completed respectively, with year-on-year growth of 75.4% and 88% respectively.

Industry insiders believe that after the adjustment of the subsidy policy for new energy vehicles in June, the industry still shows a stable and strong trend, and the trend of high-end new energy vehicles is very obvious.

According to the report of Tianfeng Securities, with the centralized listing of new energy and new models, the market sales in the last four months of this year remain optimistic, and it is expected that the growth rate will still reach more than 23% above the high base last year.

However, affected by many negative factors, the growth rate of the car market has slowed down, which continues to hamper the growth rate of the total retail sales of consumer goods.

Cui Dongshu, secretary-general of the National Passenger Car Market Information Joint Conference, said that the main factors that have exacerbated the negative growth of the car market in the recent period include the good overall economic trend but structural differentiation, the better profit improvement in the upstream raw material field, and the insufficient cost transmission and consumption of the downstream to bear the upstream and midstream, leading to a decline in the profits of downstream enterprises, thus affecting the improvement of purchasing power of some groups.

Zhou Chunlin, an analyst at Wanlian Securities, believes that the "golden nine and silver ten" is the traditional peak season of the car market, and the sales volume is expected to be slightly boosted. However, in the same period of September last year, the base of the pulling effect brought by the purchase tax reduction was relatively high, putting pressure on the growth in September this year.

"The slowdown trend of the car market has not yet reversed, and it is too early to judge the bottom of the growth rate. Passenger cars still face negative growth pressure in September." Cui Dongshu said that the impact of Sino US trade friction will gradually reflect, and the phenomenon of consumption degradation of some groups under the general trend of consumption upgrading will be reflected, and the growth rate of the car market is expected to further slow down this autumn and winter.

It should be noted that, according to the data previously released by the Bureau of Statistics, China's total retail sales of automobile products have declined for three consecutive months on a year-on-year basis, with a year-on-year decline of 1%, 7% and 2% respectively in May, June and July. As the automobile plays a leading role in the three industries that have the largest impact on the retail sales of consumer goods, the growth rate of the total retail sales of consumer goods has declined recently, entering the era of single digit growth. The automobile sales continued to grow negatively in August, which will also continue to drag down the total retail sales of consumer goods.