Both auto output and sales surpassed 10 M in the first 7 months in China

China’s auto output and sales in the January-July period both surpassed 10 million units, respectively 10.21 million and 10.26 million, up by 44% and 43% year-on-year. The main features are as follows: 

1. The sales came down slowly, and the market got back to rational. The monthly auto sales is down from April to July, by 10%, 10%, 1% and 11% respectively, The output and sales of automobiles from January to July increased by a large margin compared with that of previous year.

2. The sales of all models are on increase, and that of the passenger vehicles is slightly higher than that of the commercial vehicles. The output and sales of passenger vehicles in the January-July period both achieved 7.67 M, up by 46% and 43% year on year, among which the output and sales of cars were 5.28 M and 5.24 M, up by 40% and 36% year on year; the output and sales of commercial vehicles were 2.54 M and 2.59 M, up by 38% and 42% year on year.

3. The sales of small displacement passenger vehicles have a mild month-on-month growth rate, and the market share declined. From January to July, the sales volume of 1.6L-and-below passenger vehicles were 5.25 M, with an increase of 39% year on year, which was 4.1 percentage points lower than the average growth rate of all passenger vehicles; and its sales accounted for 68% of all passenger vehicles, down by 1.8 % year on year. 

4. The output and sales of self-owned brand autos had a rapid increase, and the market share increased year on year. The sales of self-owned brand passenger vehicles increased 48% to 3.56 M units, 5.7 percentage points lower than the average growth rate of all auto sales; and the sales of self-owned brand passenger vehicles accounted for 46% of all passenger vehicles, up by 1.7 % year on year. The sales of self-owned brand cars were 1.63 M, up by 46% year on year.

5. The auto import and export increased rapidly, and the growth rate of import was obviously higher than that of export. In the first half year, all vehicles imported to China were 390 thousand with import volume of $14.5 billion, both increased by 1.7 times year on year; auto exports were 240 thousand units, up by 56% year on year, and the export volume was $2.8 billion, up by 29% year on year.

6. The economic benefits of the auto industry picked up, and the growth rate came down. According to the brief industrial report based on 14,529 industrial enterprises above designated size, during January-June period, their accumulated main business income reached $2,090 billion, up by 49% year on year, the growth rate was 5.2 percentage points lower than that of January-May period.

Source: Ministry of Commerce Website; http://english.mofcom.gov.cn/aarticle/newsrelease/significantnews/201008/20100807090630.html

1 Comment

Filed under Economy outlook

One response to “Both auto output and sales surpassed 10 M in the first 7 months in China

  1. Pingback: Table of Contents of August 2010 « GOLD MONEY TALK

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