(Yicai Global) July 15 -- BYD and GAC Toyota were the only two major Chinese carmakers to achieve the midpoint of their annual sales targets in the first half of the year when overall auto sales sank in China because of Covid-19 outbreaks in the country.

BYD sold 646,000 vehicles in the six months ended June 30, up 162 percent from a year earlier and achieving 53.8 percent of its goal for 2022, according to data released by the China Association of Automobile Manufacturers earlier this week. Sales at GAC Toyota, a joint venture of GAC Group and Japan’s Toyota Motor, rose 19.9 percent to 500,000, exactly half of its annual target.

Auto sales in China fell 6.6 percent 12.1 million units in the first half from the same period in 2021, the CAAM data showed. Lost sales totaled about 1 million between March and May, when the Covid-19 flareup was at its height.

BYD benefited from the rapid growth of the new energy vehicle market. Its NEV sales exceeded 100,000 a month over the past four months, hitting a record monthly 134,000 in June.

Sales of Camry, one of GAC Toyota’s most popular models, boomed, while its new models Front Lander and Venza also sold well, an industry insider told Yicai Global, adding that these two factors combined to boost the JV’s overall sales.

None of the other 13 leading Chinese automakers hit the annual sales midpoint, based on their sales data. SAIC Volkswagen, a JV of SAIC Motor and Germany’s Volkswagen, and Chery Automobile were the only other two to grow their sales, achieving gains of 7.9 percent and 12 percent, respectively.

SAIC Volkswagen’s sales fell 4 percent in the five months ended May 31 from a year earlier due to the impact of Covid-19 outbreaks, but rebounded 94 percent in June, helped the firm grow its first-half sales overall.

Most automakers reached only 30 percent to 50 percent of their annual sales targets. China Chang'an Automobile Group and FAW-Volkswagen Automotive, a JV of FAW Group and VW, pulled off 49 percent and 44.3 percent of their 2022 goals, respectively.

Privately-held Great Wall Motors fulfilled just 27.3 percent of its annual sales goal in the first half, the lowest among the top 15. Earlier this year, the company set a very ambitious target to sell 1.9 million vehicles in 2022, up 48.4 percent on last year.

Great Wall Motors sold fewer than 520,000 units between January and June, down 16.1 percent from a year ago, the second-biggest drop in sales among the top 15 firms. In June, sales edged up 0.5 percent to 101,200, while other carmakers had a big recovery in sales. Its major brand Haval sold 51,300 vehicles last month, down 14.5 percent from a year earlier.

Editors: Tang Shihua, Futura Costaglione