CAAM: China’s Aug auto sales jump 12% on year
Sep 11, 2020 15:30
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Production and sales of automobiles in China both witnessed on-year rises for the fifth successive month in August, mainly thanks to the stabilizing economy and a series of policies aimed at stimulating purchasing, according to the latest release from the China Association of Automobile Manufacturers (CAAM) on September 10. Market sentiment also largely improved last month, the association noted.
In August, Chinese auto sales increased by 11.6% on year or 3.5% on month to reach 2.2 million units, while production moved up 6.3% on year to 2.1 million units though this was down 3.7% on month, the statistics showed.
The firm sales and declining production saw total stocks of vehicles