Automobile production and sales continued the recovery momentum seen since the second quarter, with output and sales growing.
2020-08-14
Automobile production and sales continued the recovery momentum seen since the second quarter, with output and sales growing.
According to the latest statistics from the China Association of Automobile Manufacturers, in July, automobile production and sales continued the recovery momentum that began in the second quarter. The country produced and sold 2.201 million and 2.112 million vehicles, respectively, representing month-on-month declines of 5.3% and 8.2%, but year-on-year growth of 21.9% and 16.4%, respectively. From January to July, cumulative automobile production and sales reached 12.314 million and 12.365 million units, respectively, marking year-on-year decreases of 11.8% and 12.7%. Notably, the decline rates narrowed by 5 and 4.2 percentage points, respectively, compared to the period from January to June.
Due to the relatively low production and sales base in July of last year, passenger vehicles, commercial vehicles, and new-energy vehicles all saw rapid growth in July this year. Specifically, passenger vehicle production and sales increased by 13.2% and 8.5% year-on-year, respectively, while commercial vehicle production and sales surged by 70.3% and 59.4% year-on-year. In July, new-energy vehicles reversed their previous decline, with production and sales growing by 15.6% and 19.3% year-on-year, respectively.
Looking at production and sales year-on-year, automobile production and sales continued to show double-digit growth this month: Commercial vehicles, driven strongly by trucks, continued to make a significant contribution to the overall automotive market expansion; among trucks, four key models experienced robust growth, with heavy-duty trucks posting a year-on-year sales increase of over 80% in a single month. Meanwhile, passenger car sales also maintained year-on-year growth, with the rate of increase further improving.
Chen Shihua, Deputy Secretary-General of the China Association of Automobile Manufacturers, analyzed that, judging from the industry's development trend, although production and sales have shown strong growth this month, companies and end consumers have experienced a noticeable increase in inventory levels. Therefore, enterprises should pay close attention to inventory changes to prevent excessive stockpiles, which could otherwise burden businesses further.
Translated from Sina Auto
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Automobile production and sales continued the recovery momentum seen since the second quarter, with output and sales growing.
2020-08-14
Automobile production and sales continued the recovery momentum seen since the second quarter, with output and sales growing.
According to the latest statistics from the China Association of Automobile Manufacturers, in July, automobile production and sales continued the recovery momentum that began in the second quarter. The country produced and sold 2.201 million and 2.112 million vehicles, respectively, representing month-on-month declines of 5.3% and 8.2%, but year-on-year growth of 21.9% and 16.4%, respectively. From January to July, cumulative automobile production and sales reached 12.314 million and 12.365 million units, respectively, marking year-on-year decreases of 11.8% and 12.7%. Notably, the decline rates narrowed by 5 and 4.2 percentage points, respectively, compared to the period from January to June.
Due to the relatively low production and sales base in July of last year, passenger vehicles, commercial vehicles, and new-energy vehicles all saw rapid growth in July this year. Specifically, passenger vehicle production and sales increased by 13.2% and 8.5% year-on-year, respectively, while commercial vehicle production and sales surged by 70.3% and 59.4% year-on-year. In July, new-energy vehicles reversed their previous decline, with production and sales growing by 15.6% and 19.3% year-on-year, respectively.
Looking at production and sales year-on-year, automobile production and sales continued to show double-digit growth this month: Commercial vehicles, driven strongly by trucks, continued to make a significant contribution to the overall automotive market expansion; among trucks, four key models experienced robust growth, with heavy-duty trucks posting a year-on-year sales increase of over 80% in a single month. Meanwhile, passenger car sales also maintained year-on-year growth, with the rate of increase further improving.
Chen Shihua, Deputy Secretary-General of the China Association of Automobile Manufacturers, analyzed that, judging from the industry's development trend, although production and sales have shown strong growth this month, companies and end consumers have experienced a noticeable increase in inventory levels. Therefore, enterprises should pay close attention to inventory changes to prevent excessive stockpiles, which could otherwise burden businesses further.
Translated from Sina Auto
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