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Industry dynamics

Production and sales in car market in China drop year on year for four consecutive months

   launch date:2015-11-03

According to China Association of Automobile Manufacturers (CAAM), auto production and sales volume in China in August grew month on month, but declined year on year. Since May, production and sales volume has been lower year on year for four consecutive months, and the total production and sales volume in the first eight months of 2015 was also lower compared with that of last year.

 

Data showed that in August, auto production and sales reached 1.5697 million units and 1.6645 million units respectively, increasing by 3.4% and 10.7% month on month but dropping 8.4% and 3% year on year. In January to August, auto production and sales were totally at 15.1824 million units and 15.0172 million units respectively, both lower compared with those during the same period of last year.

 

Specifically, though production and sales volume of passenger cars rose month on month in August, but year on year, the volume was lower for three consecutive months. In August, production and sales volume of passenger cars reached 1.3416 million units and 1.4185 million units, growing 3.1% and 11.8% respectively month on month, but decreasing by 9.4% and 3.4% respectively year on year. Cars of all models saw significant drops of production and sales volume year on year, except SUV.

 

Shi Jianhua, Vice Secretary General of CAAM, believed that conditions in car market during the first eight years of 2015 were severe, but things were yet to be seen for the rest of the year, and it was too early to anticipate a negative growth of production and sales volume for the whole year. To boost the car market, CAAM has appealed to related institutions to take measures like loosening the constraints on car purchase in some cities, quickening the process of disposing or upgrading old cars and reducing by half individual tax imposed on certain cars, so that production and sales volume in the second half of the year will improve.

 

What is notable is the rapid growth of new energy car market. Data showed that in August, 21,303 units of new energy cars were produced and 18,054 units of new energy cars were sold, a 2.9-fold increase and a 3.5-fold increase respectively year on year.

 

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