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Chinese Auto Sales Recovering

2008-10-21    Source:english.chinabuses.com

According to sources with China Associations of Automobile Manufacturers, China sold 751,500 motor vehicles nationwide in September 2008, representing a growth of 19.48%MoM but down by 2.74% YoY. The total sales volume included 552,800 passenger vehicles up by 22.49% over August but down by 1.44% from September last year.


The association said that Auto production reached 764,700 units nationwide last month up by 24.24% over the previous month, but only 1.02% higher than the same month of last year. The total output included 555,500 passenger vehicles up by 27.78% over August or 2.05% on September last year.


Production was 7.31 million units while sales were 7.23 million units in the first nine months of this year up by 12.35% and 11.94% respectively, over the year-earlier level. But the growth rates were 11.91 percentage points and 10.84 percentage points, respectively, lower than a year ago.


The CAAM sources said the growth was driven down by declines in output and sales in July and August. Demand for commercial vehicles ebbed as the Chinese economy slowed down, but that for SUVs remained strong.



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