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China Association of Automobile Manufacturers (CAAM) has revised its expectation on 2019 auto sales to a 5% year-on-year decline instead of a flat year from 2018 because of the weaker-than-expected performance in the sector in the first half, market sources confirmed on Tuesday.
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Production and sales of automobiles in China in this year’s first half continued trending down, though June sales witnessed a month-on-month increase, thanks to the temporary demand recovery from the implementation of new exhaust emission standards from July 1, Mysteel Global learned from the latest release from the China Association of Automobile Manufacturers (CAAM) on July 10.
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China’s sales of excavators and other heavy machinery over the first half of 2019 increased 14.2% on year to 137,207 units though the sales in June ebbed 20% on month, according to the latest statistics release by the China Construction Machinery Association (CCMA) on July 9.
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Total sales of heavy-duty trucks across China in the 14~100 tonnes class during the first half of this year amounted to 652,600 units, representing a decline of 3% on year, according to the latest data from Beijing-headquartered Commercial Vehicle World (CVWorld) published on July 1.
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A revised version of China’s vehicle purchase tax law which officially took effect on July 1 should make purchasing a new vehicle slightly cheaper for Chinese consumers. However, opinion is divided about whether the law’s revision will help give a badly needed boost to the country’s automotive sector.
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Chinese production of air conditioners, washing machines, refrigerators, and televisions by the country’s home appliance makers continued to increase during January-May, according to the latest data released by China’s National Bureau of Statistics (NBS), with that of air-conditioners still witnessing the sharpest growth among the four, rising by 11% year on year to reach 97.46 million units during the first five months.
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China’s sales of excavators and other heavy equipment in May lost 2.2% on year or 33.5% on month to reach 18,897 units, their first decline this year, according to the latest survey of the China Construction Machinery Association (CCMA) released on June 13. Market insiders attributed the decline to a correction following the surge in sales seen over the past few months.
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Production and sales of automobiles in China declined further in May, with output plunging by 9.9% on month or 21.2% on year to reach 1.85 million units, according to the latest data from China Association of Automobile Manufacturers (CAAM) released on June 12.
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China’s domestic sales of heavy-duty trucks in the 14~100 tonnes class in May reached 109,000 units, lower by 4% on year or by 9.9% on month, according to the latest statistics released by Beijing-headquartered Commercial Vehicle World (CVWorld) on June 4. Over January-May, sales of heavy trucks totalled 553,400 units, down by a slight 1% on year.
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Production and sales of automobiles in China continued trending downward in April, with output plunging by 19.8% from March and sales by 21.4%, according to the latest data from China Association of Automobile Manufacturers (CAAM) released on May 13.
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Sales of excavators and other heavy equipment in China continued trending upward in April, gaining 7% on year to reach 28,410 units, according to the latest survey of the China Construction Machinery Association (CCMA) released on May 9. However, the April result was some 35.8% lower than sales in March.
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China’s steel demand from key consuming sectors such as the property market and infrastructure construction is expected to remain stable for the rest of 2019, Wu Jingjing from the China Iron & Steel Association (CISA) shared at the Singapore Iron Ore Week 2019 forum in the city-state on May 9.
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China’s halving the shantytown development target to 2.85 million units for 2019 is dampening the sentiment of the country’s property market especially in smaller cities, even though it is unlikely to reduce the steel demand much in reality, Mysteel Global understood from various market sources on May 5.
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China’s April domestic sales of heavy-duty trucks ranging 14-100 tonnes ebbed from March’s record high, down 19% on month or 1% lower on year to 121,000 units, according to the latest statistics release by Beijing-headquartered Commercial Vehicle World (CVWorld) on May 5.
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Production of air conditioners, washing machines, refrigerators, and televisions among Chinese home appliance makers increased over January-March, with output of air-conditioners witnessing a particularly significant rise, according to the latest data released by China’s National Bureau of Statistics (NBS) on April 18.
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Sales of construction equipment recorded by China’s 25 leading excavator makers totalled 44,278 units in March, up by a significant 15.7% on year, according to the latest statistics released by the China Construction Machinery Association (CCMA) on April 8.
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Chinese domestic sales of heavy trucks in the 14- to 100-tonnes class reached an all-time high in March, traditionally the best month for heavy truck business, with total sales reaching 144,000 units, according to the latest release by Beijing-headquartered Commercial Vehicle World (CVWorld) on April 1. The result marked an increase of 4% on year and an 85% leap from February, it noted.
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Beijing is mulling adjusting its regulating efforts in the country’s property market by allowing the local authorities to take the lead so as to maintain the market’ vigour, Ren Xingzhou, a researcher with the Institute of Market Economy, Development Research Center of China, disclosed when addressing the delegates at the 17th International Steel Market and Trade Conference on March 28 in Nanjing, East China’s Jiangsu province.
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China will likely consume 850-900 million tonnes of crude steel this year, Chi Jingdong, vice chairman of China Iron and Steel Association, predicted at the association’s 17th International Steel Market and Trade Conference held in Nanjing on March 28.
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China’s decision to reduce the value-added tax on manufacturers to 13% on April 1 from the prevalent 16% may not definitely lead to lower prices of ferrous products including iron ore and steel or downstream products such as auto, market sources said on Monday and Tuesday.
