ChinaScope Daily Dim Sum: chinese cars

Showing posts with label chinese cars. Show all posts

Thursday, September 20, 2012

U.S. to Launch Anti-Subsidy Probe on China’s Auto Exports

Source: Sina Finance, ChinaScope Financial (Data)

+ The U.S. has requested a World Trade Organization (WTO) consultation with China on the auto export subsidies. The U.S. accused Chinese auto exporters of receiving at least USD 1 billion in government subsidies between 2009 and 2011.

+ The state of Ohio was known for its manufacturing industry. Many people are blaming the current industry downturn on the emergence of Chinese exports.

+ The U.S. government said that China’s “export base” project, in which Chinese auto makers receive governmental support, has helped China increase the value of its exports of automobiles and spare parts from USD 7.4 billion in 2001 to USD 69.1 billion in 2011.

China exports a significant amount of auto parts to the US, implying that some US producers will see their input costs increase because of the ADDs. Much of Chinese auto export to the US is by joint ventures, why the ADDs will also hurt the foreign JV partner.

If you'd like to receive a daily e-mail update of ChinaScope Daily Dim Sum Newsletter, please contact us:newsletter@chinascopefinancial.com. If you'd like to try out ChinaScope Database, apply for a trial here

Wednesday, September 12, 2012

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.

Monday, July 23, 2012

Competition in SUV Market Intensifies Amidst Strong Growth

Source: China Business Journal, ChinaScope Financial (Data)

+ In 12H1, the volume of SUV sales increased to 952,600, a growth rate of 28.4% year-on-year, up from the 23.6% in 2011. The 12H1 SUV growth vastly outpaced the 7.08% of passenger vehicles.

+ Given the rapid demand growth in the SUV market, automobile manufacturers are optimistic about future sales. 20 new SUV models will be released soon, all of which are believed to intensify competition in the domestic market.

The sales momentum of SUVs was particularly strong in May and June, where it showed growth rates three times that of passenger vehicles.

Friday, May 11, 2012

Passenger Car Sales Increase 12.4% YoY in April

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

+ Data released by the China Association of Automobile Manufacturers on May 9 shows that 1.65 million automobiles were produced in April, down 12.39% month-on-month but up 7.81% year-on-year. Meanwhile, 1.62 million automobiles were sold, down 11.65% month-on-month but up 5.19% year-on-year.

+ In April, 1.31 million passenger cars were produced and 1.28 million sold, down 10.35% and 8.85% month-on-month, but up 13.55% and 12.46% year-on-year.

+ During the Jan-April period, automobile production increased 0.47% year-on-year to 6.43 million, while automobile sales decreased 1.33% year-on-year to 6.42 million.

The passenger vehicles sales volume growth rebounded in April with a 5.19% YoY growth. Commercial vehicles’ demand remains weak.

With a 33.59% YoY growth in April, SUV growth was the highest among passenger vehicles.