In May, China's motorcycle production and sales decreased month-on-month, and continued to maintain year-on-year growth; Domestic sales decreased slightly compared with the same period last year, exports were significantly driven, and the overall growth trend remained unchanged.

01Production and sales

In May, the industry-wide production and sales of motorcycles reached 1,689,300 units and 1,672,100 units, down 12.09% and 11.35% month-on-month, and up 12.62% and 13.22% year-on-year.

Among them, the production and sales of two-wheeled motorcycles were 1,463,100 units and 1,448,000 units, down 13.9% and 12.88% month-on-month, and up 13.41% and 14.4% year-onyear.

Production and sales of three-wheeled motorcycles were 226,200 units and 224,100 units, up 1.72% and 0.04% m/m and 7.75% and 6.15% y/y.

The production and sales of fuel motorcycles were 1,377,400 units and 1,362,500 units, down 8.25% and 7.99% month-on-month, and up 20.7% and 20.54% year-on-year;

Electric motorcycle production and sales were 312,000 units and 309,600 units, down 25.8% and 23.62% m/m and 13.07% y/y and 10.64% y/y.

Analysis 1: Except for the weak month-on-month growth of three-wheeled motorcycles, other models in May have collectively declined month-on-month, indicating that the market trend in May is not as good as that in April!

From January to May, the industry's motorcycle production and sales reached 8,249,200 units and 8,256,700 units, up 37.23% and 35.97% y/y. Among them, the production and sales of two-wheeled motorcycles were 7,242,400 units and 7,251,800 units, a year-on-year increase of 38.12% and 36.82%; The production and sales of three-wheeled motorcycles were 1,006,800 units and 1,004,900 units, up 31.18% and 30.14% y/y.

Analysis 2: From January to May, the collective growth in 2021 compared to 2020 is expected, because the first half of 2020 is when the global epidemic is at its worst.

From the point of view of the model category ——

In May, the production and sales of straddle bicycles were 759,200 units and 747,200 units, down 9.11% and 9.24% month-on-month, and up 34.81% and 14.4% year-on-year. The production and sales of scooters were 504,200 units and 506,400 units, down 22.4% and 19.45% month-on-month, and down 10.5% and 5.23% year-on-year. Production and sales of curved beam vehicles were 197,800 units and 192,400 units, down 7.75% and 8.48% m/m and up 20.81% y/y and 20.38% y/y.

From January to May, the production and sales of straddle cycling were 3,686,900 units and 3,672,000 units, up 49.07% and 46.95% y/y. The production and sales of scooters were 2,564,600 units and 2,587,200 units, a year-on-year increase of 23.34% and 23.24%; Production and sales of curved beam vehicles were 988,900 units and 990,600 units, up 43.1% and 41.1% y/y.

Analysis 3: The overall environment in 2021 is better than that in 2020, and the scooter category actually decreased in a single month compared with 2020, indicating that the scooter was seriously cold in May.

From the perspective of the proportion of sales of each model to the total sales of two-wheelers, the three types of straddle riding, pedal and curved beam accounted for 50.63%, 35.68% and 13.67% respectively.

Judging by the displacement of the model ——

From January to May, the production and sales of the 50 series were 352,300 units and 344,000 units, up 54.59% and 47.63% y/y. Production and sales of the 110 series were 866,600 units and 853,800 units, up 26.58% and 22.83% y/y. Production and sales of the 125 series were 2,302,900 units and 2,352,200 units, up 52.1% and 51.74% y/y. Production and sales of the 150 series were 1,471,800 units and 1,475,900 units, up 49.37% and 47.73% y/y. Production and sales of the 250 series were 52.53 units and 534,800 units, up 47.72% and 46.32% y/y.

From January to May, the production and sales of fuel motorcycles were 6,640,300 units and 6,681,500 units, up 43.08% and 41.74% y/y. The production and sales of electric motorcycles were 1,608,900 units and 1,575,200 units, up 17.43% and 15.96% y/y.

Top 10 fuel motorcycle sales ——

From January to May, the top 10 enterprises (groups) selling fuel motorcycles were Da Changjiang (Haojue), Loncin, Lifan, Zongshen, Luoyang North, Yinxiang, Wuyang-Honda, Xindazhou Honda, Guangzhou Dayun and Guangdong Daye selling 915,300 units, 553,200 units, 399,200 units, 394,500 units, 346,000 units, 335,000 units, 329,500 units, 318,100 units, 217,500 units and 178,100 units, respectively.

Analysis 4: Among the TOP10 electric motorcycle sales brands, Zongshen Group ranks in the TOP5, which is a bit unexpected. As one of the earliest brands in motorcycle brands to get involved in the electric business, Zongshen Group's industrial chain layout is complete, and the future can be expected!

02

Export situation

In May, China's motorcycle overseas market demand is strong, although the export volume decreased slightly month-on-month, still maintained a high growth rate year-on-year, growing sharply for five consecutive months, and the cumulative export volume was close to the best level in history.

In May, motorcycle exports reached 741,900 units, down 5.57% m/m and up 57.61% y/y. The export value was 455 million US dollars, down 5.92% month-on-month and up 65.79% year-on-year.

Among them, the export of two-wheeled motorcycles was 706,900 units, down 4.71% month-on-month and up 60.54% year-on-year; Exports of three-wheeled motorcycles were 34,900 units, down 20.07% m/m and up 15.06% y/y.

From January to May, the total export volume of motorcycle manufacturers was 2.792 billion US dollars, a year-on-year increase of 78.8%. Vehicle exports were 3,647,900 units, up 62.99% y/y. The export value was 2.239 billion US dollars, a year-on-year increase of 73.34%.

Motorcycle engine exports were 571,500 units, a year-on-year increase of 20.95%; The export value was 89 million US dollars, a year-on-year increase of 17.44%.

The export of ATVs was 173,900 units, a year-on-year increase of 167.93%, and the export value was 312 million US dollars, a year-on-year increase of 173.29%.

The export value of motorcycle parts was 152 million US dollars, a year-on-year increase of 90.5%.

From January to May, the top five series of exports were 125 series, 150 series, 110 series, 250 series and 50 series, with exports of 1,237,900 units, 917,900 units, 574,400 units, 327,100 units, and 207,000 units, up 64.78%, 73.47%, 42.24%, 72.68% and 55.46% y/y, respectively. From January to May, a total of 3,263,400 units of the above five series were exported, accounting for 94.82% of the total exports of two-wheeled motorcycles. Exports of three-wheeled motorcycles reached 206,200 units, a year-on-year increase of 51.39%.

Analysis 5: The domestic demand for motorcycle personalization has increased significantly, but looking at the world, China's motorcycle export products are still small displacement, keyboard warriors do not complain about the enterprises 125 years, sales show the problem.

From January to May, the top ten enterprises in motorcycle export volume were: Loncin, Da Changjiang, Zongshen, Yinxiang, Lifan, Daye, Xindazhou Honda, Guangzhou Haojin, Aerospace Bashan, Dayun, the above ten enterprises exported a total of 2.2416 million units, accounting for 61.45% of the total motorcycle exports.

03

Economic benefits

According to the statistics of the monthly economic index express report of 92 motorcycle manufacturers in China, from January to April, the total industrial output value, industrial sales output value, operating income and total profit of motorcycle manufacturers increased compared with the same period last year.

The total industrial output value and industrial sales output value continued to show double-digit growth. From January to April, the total industrial output value of motorcycle manufacturers reached 41.033 billion yuan, an increase of 52.49% year-on-year; The industrial sales output value was 40.926 billion yuan, a year-on-year increase of 48.77%; The industrial added value was 6.151 billion yuan, a year-on-year increase of 31.06%.

Operating income and total profit increased. From January to April, motorcycle manufacturers achieved operating income of 45.143 billion yuan, a year-on-year increase of 47.65%; The total profit was 1.498 billion yuan, a year-on-year increase of 46.53%, and the total profit and tax was 2.199 billion yuan, a year-on-year increase of 23.63%.

From January to April, the operating cost of motorcycle manufacturers was 38.553 billion yuan, a year-on-year increase of 50.57%; taxes and surcharges amounted to RMB298 million, a year-on-year increase of 30.86%; sales expenses were 1.735 billion yuan, a year-on-year increase of 50.07%; management expenses were 1.781 billion yuan, a year-on-year increase of 2.42%; R&D expenses were 1.147 billion yuan, a year-on-year increase of 36.41%; Financial expenses were 141 million yuan, down 22.28% year-on-year. The total of the four expenses was 4.804 billion yuan, a year-on-year increase of 22.62%.