机械设备行业报告：摩托车行业2024年3月销售数据更新

2请务必阅读正文之后的信息披露和免责申明全行业来看，中大排量二轮摩托车销量保持平稳：全行业来看，中大排量二轮摩托车销量保持平稳：1-3月，150＜排量≤250cc累计销售34.3万辆，yoy+25%；排量＞250cc累计销售11.5万辆，yoy+6%。全行业来看，3月单月，150＜排量≤250cc累计销售13.3万辆，yoy+19%；排量＞250cc累计销售5.2万辆，yoy+1%。【春风动力】1-3月，公司110cc+两轮车累计销售4.6万辆，yoy+46%，其中150＜排量≤250cc销售1.8万辆，yoy+99%；排量＞250cc销售2.5万辆，yoy+52%。3月单月，公司110cc+两轮车销售2.2万辆，yoy+43%，其中150＜排量≤250cc销售8045辆，yoy+62%；排量＞250cc销售12764辆，yoy+91%。公司四轮车销量持续整体维稳：1-3月，公司累计销售3.5万辆，yoy-13%；3月单月销售四轮车15735台，yoy-10%。【钱江摩托】1-3月，公司110cc+两轮车累计销售9.7万辆，yoy+7%；其中150＜排量≤250cc销售1.1万辆，yoy-26%；排量＞250cc销售2.6万辆，yoy-12%。3月单月，公司110cc+两轮车销售4.4万辆，yoy-4%；其中150＜排量≤250cc销售5379辆，yoy-20%；排量＞250cc销售1.1万辆，yoy-28%。风险提示：中大排量摩托车增速不及预期；禁限摩政策影响等；本数据为跟踪数据，不构成投资建议两轮摩托车行业13请务必阅读正文之后的信息披露和免责申明4资料来源：中国汽车协会摩托车分会，天风证券研究所150＜排量≤250ml150＜排量≤250ml本月完成（辆）111386122597117433124116122208132096112905111253123637136874本月完成（辆）11776292753132657本月同比增长6%13%-1%2%-11%23%2%8%12%14%本月同比增长50%10%19%年初至当月累计销量（辆）2742343968315142646383807605889033791016284112753712511841388058年初至当月累计销量（辆117762210719343172年初至当月累计增长-8%-2%-2%-1%-3%1%1%2%3%4%年初至当月累计增长50%29%25%去年累计2981694069315261046480387852018925751003020110621712162911336131去年累计78327162848274234250＜排量≤400ml250＜排量≤400ml本月完成（辆）37480406823336626779308922879728062212422162919565本月完成（辆）184891146623718本月同比增长84%56%0%-33%-38%-44%-40%-33%14%16%本月同比增长2%-46%-46%年初至当月累计销量（辆）76,608117,290150,656177,435209,577238,374266,436287678309307328872年初至当月累计销量（辆18,48929,95553673年初至当月累计增长61%59%41%21%-9%-15%-19%-20%-19%-17%年初至当月累计增长2%-24%-30%去年同期20,31726,05233,42439,75550,15751,20446,903318141890316797去年同期181342119737480去年累计47,49973,551106,975146,730230,672281,876328,780360592379495396292去年累计181343912876608400＜排量≤750ml400＜排量≤550ml本月完成（辆）14256133481554517615223271874022034212761690116081本月完成（辆）11615877720124本月同比增长本月同比增长年初至当月累计销量（辆）31707450556059878213100540119600141634162910179811195892年初至当月累计销量（辆116152039240516年初至当月累计增长500＜排量≤800ml去年同期本月完成（辆）836132397488去年累计本月同比增长排量＞750ml年初至当月累计销量（辆)83611160019088本月完成（辆）393061415559210872排量＞800ml本月同比增长本月完成（辆）1101084984年初至当月累计销量（辆）297327333347362417509519527599年初至当月累计销量（辆)11011942178去年同期去年同期去年累计去年累计春风动力25请务必阅读正文之后的信息披露和免责申明6资料来源：中国汽车协会摩托车分会，天风证券研究所摩托车销售情况（总量）本月完成（辆）91381536516,13013,13715,88613,82912,68313,39511,50113,65412,03215,5918,23221905本月同比增长-5%13%96%38%46%13%-7%-9%3%128%37%133%-11%-43%年初至当月累计销量（辆）158273119247,32260,45976,34590,111102,794116,189127,690141,344153,37615,59123,82345,728年初至当月累计增长-1%5%25%28%31%28%22%18%16%22%23%133%50%46%110＜排量≤125ml本月完成（辆）1100353445571377248918882196124910111083969755345946本月同比增长-59%83%134%-6%179%54%-4%-35%-15%31%158%82%-67%-33%年初至当月累计销量（辆）147049089,46510,84213,33115,31517,51118,76019,77120,85423,0147551,1002,046年初至当月累计增长-62%-11%27%29%44%46%37%28%24%25%30%82%-25%-59%去年同期（辆）235419311,9491,4598931,2302,2871,9161,1858263764141,056713去年同期累计359055217,4708,9299,82211,05213,33915,25516,44017,26615,0774141,4705,004125＜排量≤150ml本月完成（辆）10717510210610431925127223451200150本月同比增长-44%-48%-55%-80%-83%-12%-60%-2%-92%-39%-95%-100%-100%年初至当月累计销量（辆）3355106127188221,1411,3921,6641,6871,7321,74400150年初至当月累计增长-16%-31%-37%-52%-61%-54%-55%-51%-54%-54%-56%-100%-100%-71%去年同期（辆）19233922752262536162227828174224228107175去年同期累计3987379641,4862,1112,4723,0943,3723,6533,7273,951228335510150＜排量≤250ml200-250200-250200-250200-250200-250本月完成（辆）24894959591257225405216543834504496967673999803221798045本月同比增长17%-14%52%24%-11%-58%-17%57%1%232%129%362%-12%-62%年初至当月累计销量（辆）4226918515,09720,81926,22428,98933,37237,87642,84549,61253,6118,03210,21118,265年初至当月累计增长8%-5%11%14%8%-1%-4%1%1%12%16%362%142%99%去年同期（辆）212057833,8874,6136,0445,1475,2722,8634,9242,0381,7441,7372,4894,959去年同期累计3908969113,57818,19124,23529,38334,65537,51842,44244,48046,2241,7374,2269,185排量＞250ml本月完成（辆）558266915559593278889457585373705498575970526804570812764本月同比增长13%21%157%70%135%74%8%-24%15%89%21%58%2%91%年初至当月累计销量（辆）98921658922,14828,08035,96845,36251,21558,58564,08369,84276,8946,80412,51225,276年初至当月累计增长22%21%40%45%59%61%53%36%34%37%35%58%26%52%去年同期（辆）495455362,1623,4863,3565,4465,4109,6644,7753,0495,8474,3105,5826,697去年同期累计81401367615,83819,32415,88628,12633,53643,20047,97551,02456,8714,3109,89216,589钱江摩托37请务必阅读正文之后的信息披露和免责申明8摩托车销售情况（总量）本月完成（辆）251514582135,88639,92735,51931,07824,61427,92635,77526,35320,06036,42116,88143,912本月同比增长37%30%24%27%9%-20%-37%-13%13%1%-12%85%-33%-4%年初至当月累计销量（辆）4489190712126,598166,525202,044233,122257,736285,662321,437347,790367,85036,42153,30297,214年初至当月累计增长14%21%22%23%20%13%5%3%4%4%3%85%19%7%去年同期183153535528,96331,53932,58638,65739,24732,13631,57626,05922,70819,74025,15145,821去年同期累计3946074815103,778135,317167,903206,560245,791277,927309,503335,562358,27019,74044,89190,712110＜排量≤125ml本月完成（辆）3982976274941396112481698467275534490810079536417845412618316本月同比增长-40%-13%31%165%128%6%-9%48%89%72%-23%382%4%88%年初至当月累计销量（辆）76821744424,93838,89951,38058,36465,09170,62575,53385,61290,97617,84521,97140,287年初至当月累计增长-35%-24%-13%14%30%27%22%24%26%30%25%382%186%131%去年同期6631111665,7045,2775,4666,5807,3803,7452,6035,8617,0063,7003,9829,762去年同期累计118592302528,72934,00639,47246,05253,41657,16159,76465,62572,6313,7007,68217,444125＜排量≤150ml本月完成（辆）99061373397891161210801112647757101582029466914890605256008979本月同比增长119%49%48%147%149%55%28%-3%91%-27%-40%-1%-43%-35%年初至当月累计销量（辆）160422977539,56451,17661,97773,24180,99891,156111,450118,141123,0316,05211,65220,631年初至当月累计增长46%47%48%62%73%70%65%53%59%49%40%-1%-27%-31%去年同期451692286,6104,7074,3347,2666,05910,48210,6109,1778,1506,1369,90613,733去年同期累计109642019226,80231,50935,84343,10949,16859,65070,26079,43787,5876,13616,04229,775150＜排量≤250ml本月完成（辆）429667483,9753,7184,8533,5302,1774,5363,9272,8963,2823,0352,1975,379本月同比增长-12%30%-12%-16%161%-10%-57%-30%-56%-46%-18%-9%-49%-20%年初至当月累计销量（辆）76231437118,34622,06426,91730,44732,62437,16041,08743,98347,2653,0355,23210611年初至当月累计增长0%12%6%1%14%10%0%-5%-15%-18%-18%-9%-31%-26%去年同期489951764,5154,4281,8623,9315,0806,5168,9665,3694,0173,3274,2966,748去年同期累计76421281817,33321,76123,62327,55432,63439,15048,11653,48557,5023,3277,62314,371排量＞250ml本月完成（辆）696715578146281063673849300795376986646668765249489495811238本月同比增长207%59%21%-38%-65%-55%-62%-32%-29%18%85%44%-29%-28%年初至当月累计销量（辆）135442912243,75054,38661,77071,07079,02386,72193,367100,054106,5789,48914,44725,685年初至当月累计增长51%55%42%13%-10%-21%-29%-29%-29%-27%-24%44%7%-12%去年同期2269978512,13417,12720,92420,88020,72811,3939,3975,6523,5356,5776,96715,578去年同期累计89951878030,91448,04168,96589,845110,573121,966131,363137,015140,5506,57713,54429,122资料来源：中国汽车协会摩托车分会，天风证券研究所市占率分析49请务必阅读正文之后的信息披露和免责申明0%1%2%3%4%5%6%7%8%2019年11月2020年1月2020年3月2020年5月2020年