The latest published data show that in July this year, the national white goods industry continued poor conditions. Air-conditioner output and sales inventory all declined significantly, and sales growth was close to the 2008 low. The prosperity of the refrigerator was nearly four years low. Only the washing machine industry, driven by exports, the growth of contrarians has become the biggest highlight of white electricity.
First, the year-on-year growth in air-conditioner production, sales, and inventory growth In July of this year, the country's production of household air-conditioners was 8.17 million, a year-on-year decrease of 15.16%. From January to July, the cumulative production volume was 67.34 million units, a year-on-year decrease of 11.23%. Since the country’s air-conditioning inventory was full last year, it has been mainly digesting stocks this year.
The domestic home air conditioner sales in July amounted to 8.47 million units, a decrease of 10.07%. Domestic sales were 5.09 million units, down 15.17% year-on-year and 3.38 million units exported, down 1.11% year-on-year. Compared with the same period of last year, cumulative sales of 71.34 million units in the January-July period this year, a year-on-year decrease of 6.81%. In addition to a year-on-year increase of 15.21% in sales volume in a single month, the sales volume in other months decreased in different degrees.
Every year from March to June is the peak season for air conditioning production and sales. However, in June this year, companies began to reduce production and inventory, until after production and inventories rose steadily after October. In the case of destocking, the national air-conditioner inventory was 7.78 million units in July this year, which is the lowest point this year and a decrease of 23.38% year-on-year. Monthly inventory volume showed a year-on-year decline compared to the same period of last year, but monthly inventory levels are still at a relatively high level in the past five years.
Second, the decline in exports of domestic washing machines soared in July this year, the national production of 3.96 million units of washing machines, an increase of 4.24%, an increase of 2.95%. This is mainly due to the rapid recovery of exports, which account for 40% of sales.
National washing machines sold 3.88 million units in July, a year-on-year decrease of 2.26%. Domestic sales of 2.05 million units were down 7.96% year-on-year, and 1.83 million units were exported, a year-on-year increase of 5.06%. From January to July this year, cumulative sales of 30.82 million units, an increase of 0.94%, of which domestic sales of 18.92 million units, a year-on-year decrease of 5.83%, exports of 11.9 million units, an increase of 13.97%, accounting for 39% of total sales. It can be seen that the main reason for the increase in sales is due to the increase in exports to Asia and Europe.
Inventories of washing machines inventories were 2.14 million units in July, a month-on-month increase of 4.9% and a decrease of 19.03% year-on-year. The lowest level in the same period in the last five years.
Third, refrigerator inventory hit a five-year high in July this year, the national refrigerator production of 7.6 million units, a decrease of 3.81%, a slight decrease of 1% year-on-year. From January to July, the cumulative production volume was 48,600,000 units, a year-on-year decrease of 4.45%.
The nationwide refrigerators sold 7.93 million units in July, a month-on-month decrease of 4.27%, and a year-on-year decrease of 2.13%. Domestic sales were 5.98 million units, a year-on-year decrease of 1.22% and exports of 1.95 million units, a year-on-year decrease of 4.85%. From January to July, cumulative sales amounted to 48.93 million units, a year-on-year decrease of 5.44%. Domestic sales were 36.78 million units, a year-on-year decrease of 7.93% and exports of 12.12 million units, an increase of 2.81% year-on-year.
Inventories of refrigerators totaled 2.77 million units in July, down 10.59% month-on-month and 28.04% year-on-year. In the past four months, stocks have declined month-on-month. Inventories have remained high in the past two years. July stocks have reached the highest level in five years.
First, the year-on-year growth in air-conditioner production, sales, and inventory growth In July of this year, the country's production of household air-conditioners was 8.17 million, a year-on-year decrease of 15.16%. From January to July, the cumulative production volume was 67.34 million units, a year-on-year decrease of 11.23%. Since the country’s air-conditioning inventory was full last year, it has been mainly digesting stocks this year.
The domestic home air conditioner sales in July amounted to 8.47 million units, a decrease of 10.07%. Domestic sales were 5.09 million units, down 15.17% year-on-year and 3.38 million units exported, down 1.11% year-on-year. Compared with the same period of last year, cumulative sales of 71.34 million units in the January-July period this year, a year-on-year decrease of 6.81%. In addition to a year-on-year increase of 15.21% in sales volume in a single month, the sales volume in other months decreased in different degrees.
Every year from March to June is the peak season for air conditioning production and sales. However, in June this year, companies began to reduce production and inventory, until after production and inventories rose steadily after October. In the case of destocking, the national air-conditioner inventory was 7.78 million units in July this year, which is the lowest point this year and a decrease of 23.38% year-on-year. Monthly inventory volume showed a year-on-year decline compared to the same period of last year, but monthly inventory levels are still at a relatively high level in the past five years.
Second, the decline in exports of domestic washing machines soared in July this year, the national production of 3.96 million units of washing machines, an increase of 4.24%, an increase of 2.95%. This is mainly due to the rapid recovery of exports, which account for 40% of sales.
National washing machines sold 3.88 million units in July, a year-on-year decrease of 2.26%. Domestic sales of 2.05 million units were down 7.96% year-on-year, and 1.83 million units were exported, a year-on-year increase of 5.06%. From January to July this year, cumulative sales of 30.82 million units, an increase of 0.94%, of which domestic sales of 18.92 million units, a year-on-year decrease of 5.83%, exports of 11.9 million units, an increase of 13.97%, accounting for 39% of total sales. It can be seen that the main reason for the increase in sales is due to the increase in exports to Asia and Europe.
Inventories of washing machines inventories were 2.14 million units in July, a month-on-month increase of 4.9% and a decrease of 19.03% year-on-year. The lowest level in the same period in the last five years.
Third, refrigerator inventory hit a five-year high in July this year, the national refrigerator production of 7.6 million units, a decrease of 3.81%, a slight decrease of 1% year-on-year. From January to July, the cumulative production volume was 48,600,000 units, a year-on-year decrease of 4.45%.
The nationwide refrigerators sold 7.93 million units in July, a month-on-month decrease of 4.27%, and a year-on-year decrease of 2.13%. Domestic sales were 5.98 million units, a year-on-year decrease of 1.22% and exports of 1.95 million units, a year-on-year decrease of 4.85%. From January to July, cumulative sales amounted to 48.93 million units, a year-on-year decrease of 5.44%. Domestic sales were 36.78 million units, a year-on-year decrease of 7.93% and exports of 12.12 million units, an increase of 2.81% year-on-year.
Inventories of refrigerators totaled 2.77 million units in July, down 10.59% month-on-month and 28.04% year-on-year. In the past four months, stocks have declined month-on-month. Inventories have remained high in the past two years. July stocks have reached the highest level in five years.
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