China’s car sales growing at double-digit in August: CAAM

Source: Global Times Published: 2020/9/10 18:18:42

New cars are seen outside a showroom in Kolkata, India, May 14, 2019. India's automobile sector continued its bumpy ride for the fifth consecutive month in April with 20 percent drop in car sales and 16 percent drop in two-wheeler sales, compared with the same period last year. The drastic drop in sales was attributed to several factors including liquidity squeeze in the market, rising fuel cost, interest rates and insurance costs that has dampened consumer sentiment. (Photo: Xinhua)



China's car sales maintained double-digit growth in August, showing the industry's recovery with the easing of restrictive measures to contain COVID-19 spread, said the China Association of Automobile Manufactures (CAAM).

According to statistics from the CAAM, China's car sales increased 11.6 percent year-on-year in August to 2.19 million units, a double-digit growth for the fourth month in a row.

Over the same period, China's car production maintained a year-on-year growth trend for the fifth consecutive month, rising to 2.12 million units in August, an increase of 6.3 percent year-on-year.

Commercial vehicles sales in August surged 41.6 percent year-on-year to 431,000 units, and production jumped 42.8 percent to 425,000 units. 

While production of passenger cars dropped 0.1 percent year-on-year to 1.69 million units, their sales in China hit 1.76 million units, a year-on-year increase of 6 percent. 

New energy vehicle sales increased 25.8 percent to 109,000 units with a record production of 106,000 units, up 17.7 percent year-on-year.

Global Times



Posted in: INDUSTRIES

blog comments powered by Disqus