China Car Sales Growth Continues to Falter in July
Despite some year-over-year improvement of sales in July, China's car market remains relatively troubled, as its sales improvement rate runs slightly behind that of the United States. As the economy in the People's Republic slows, growth may deteriorate further. Modest factory activity and PMI should cap wages for China's large middle class. Anti-air pollution policies in the largest cities also may undermine sales
The local trade association reported:
According to statistics and analysis of China Association of Automobile Manufacturers (CAAM), China automobile sales were 1,516,290 units in July, decrease 13.56% compared with last month, and increase 9.93% compared with the same period of last year. Among main automobile categories, passenger car sales was 1,237,569 units, decrease 11.82% compared with last month, and up 10.48 percent year on year; the sales of commercial vehicle was up to 278,694 units, decrease 20.52% compared with last month, and up 7.54 percent year on year.
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From January to July, Chinese auto sales exceeded 12,298,593 units, increase 9.93 percent compared with the same period of last year. Passenger car sales increase 10.48 percent year on year to about 9,902,753 units; commercial vehicle sales exceeded 2,395,840 units, a increase of 6.75 percent from a year earlier.
And:
According to statistics and analysis of China Association of Automobile Manufacturers (CAAM), the amount of China’s auto production was 1,583,333 units in July, decrease 5.43% compared with last month, and increase 10.18% compared with the same period of last year. Among main automobile categories, production of passenger cars was 1,298,798 units, decrease 4.68% compared with last month and up 9.62% year on year; the output of commercial vehicle was 284,535 units, decrease 8.68% compared with last month, and increase 12.78% compared with the same period of last year;
From January to July this year, China automobile production reached 10,968,706 units, increase 12.46% compared with the same period of last year; Production of passenger cars was 9,963,300 units, increase 9.62 percent year on year; the output of commercial vehicle was 2,371,708 units, increased 12.78% compared with the same period of last year.
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