In January 2008, the automotive industry continued its strong momentum, with auto sales reaching 859,400 units—an impressive 19.83% year-on-year increase. This marked another record high for the sector, showing robust growth across both passenger cars and commercial vehicles. Passenger car sales totaled 661,900 units, rising by 19.80%, while commercial vehicle sales hit 197,500 units, up 19.91% compared to the same period last year.
Within the passenger car segment, sedans remained stable, SUVs saw a significant surge in demand, and MPVs experienced minor fluctuations. The domestic car market as a whole recorded 493,754 units sold in January, hitting a new peak. With a 21.6% year-on-year growth, this steady performance played a key role in driving overall passenger car market expansion. Although February was expected to see a dip due to the Spring Festival holiday, which reduced the number of working days to 16, the year-on-year growth outlook remained positive.
Looking at market segments, mainstream high-end commercial sedans gained nearly one percentage point in market share from December, signaling strong momentum. Mid-size sedans saw a slight decline but maintained stable volumes, while compact cars continued to expand their market presence, reflecting the growing influence of private car ownership in China. In contrast, small cars faced a modest drop in sales, while mini cars showed improved performance.
SUVs had a standout month, with total sales reaching 37,766 units—an increase of 61.5% year-on-year, marking the second-highest level ever recorded. This rapid growth in SUVs was a major driver behind the broader passenger car market's upward trend. Analysts expect SUV sales to keep setting records unless there are major policy changes.
MPV sales saw mixed results: large MPVs lost market share, while medium-sized MPVs remained relatively stable. However, small MPVs saw both increased sales and a rise in market share, indicating shifting consumer preferences.
Commercial vehicles also performed strongly, with an overall growth rate of nearly 20%. Light trucks saw a sharp jump in growth, increasing from 16.2% in the previous month to 29.6%, while heavy trucks surged from 26.2% to 41.0%, becoming the main driver of commercial vehicle growth. Despite some expectations of slower growth in heavy trucks, many analysts believe they will continue to grow rapidly.
In the passenger car segment, only three major categories saw high-speed growth—47.3% for large passenger cars. Medium and small passenger cars grew at more moderate rates, with light passenger cars recording over 5% growth. Meanwhile, the truck segment showed clear differentiation, with heavy and light trucks achieving 41.0% and 29.6% growth, respectively, while micro and mini trucks faced declines, highlighting a structural shift in the truck market.
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