Aug Auto Sales Volume Up 4.48 Percent MoM to 1.5 Mn

Source: China Association of Automobile Manufacturers, ChinaScope Financial (Data)

+       According to data released by China Association of Automobile Manufacturers, China produced 1.50 million automobiles in August, up 4.48 percent month-on-month or 7.78 percent year-on-year. Automobile sales volume was close to 1.50 million, up 8.40 percent month-on-month or 8.26 percent year-on-year. In the January-August period, automobile output increased 5.19 percent year-on-year to 12.47 million, identical to the sales volume.

+       In August, sales volume of passenger vehicles increased 8.81 percent month-on-month to 1.22 million. In the first eight months, sales volume of passenger vehicles was 9.95 million, up 7.98 percent year-on-year; while the sales volume of commercial vehicles over the same period was down 8.85 percent year-on-year to 2.52 million vehicles. The year-on-year growth rate of automobile output and sales volume in the first eight months went up by 0.35 and 0.56 percentage points respectively on January-July.

Despite the seasonal pattern of weak sales in August, automobile growth was a relative strong 8.81 percent YoY. This might be due to high dealer inventory which has led to discounts and government subsidies to high-efficiency cars.

SUV sales continue to outperform other models; growth of SUV passenger vehicles was 25.23 percent YoY in August.

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