China's Vehicle sales in August this year showed significant growth and hit a new high compared with the same period of the past five years, according to China Association of Automobile Manufacturers.
The production and sales volume of vehicles in China reached 2,575,000 and 2,582,000 in August respectively, jumped by 7.20% and 8.20% on month, and up by 7.50% and 8.40% on year. The cumulative production and sales volume from January to August hit 18,225,000 and 18,210,000 respectively, increased by 7.40% and 8.00% year-on-year.
In addition, China's vehicle exports sustained momentum, which have given strong support for its overall sales. The export volume of vehicle enterprises in China was 408,000 in August, up by 3.9% on month and 32.1% on year, with its cumulative exports of 2,941,000 over January-August, grew by 61.9% year-on-year.
Source: China Association of Automobile Manufacturers
The production and sales volume of passenger vehicles reached 2,275,000 and 2,273,000 in August respectively, mounted by 7.50% and 8.20% on month, and up by 5.40% and 6.90% on year. The cumulative production and sales volume from January to August were 15,672,000 and 15,643,000 respectively, climbed by 5.90% and 6.70% year-on-year. Boosted by China's sales promotion policy and producers' special promotion activities, as well as peak travel season, passenger vehicle sales in August hit a five-year high level. Moreover, its exports also kept strong this month. The export volume of passenger vehicles in China was 349,000 in August, up by 7.00% on month and 34.2% on year, with the cumulative exports of 2,455,000 over January-August, increased by 69.8% year-on-year.
The production and sales volume of commercial vehicles reached 300,000 and 310,000 in August respectively, built by 5.00% and 7.90% on month, and up by 26.20% and 20.00% on year. The cumulative production and sales volume from January to August were 2,553,000 and 2,563,000 respectively, climbed by 18.00% and 16.40% year-on-year. China's commercial vehicle sales in August showed a slow recovery compared with past few years, but overall economic recovery was lower than expected. With constantly low fright and shrinking profit of logistic industry, players' demand for buying cars was then restrained. Meanwhile, the export volume of commercial vehicles in China was 59,000 in August, down by 11.2% on month and mounted by 21.4% on year, with its cumulative exports of 486,000 over January-August, increased by 31.1% year-on-year.
Vehicle sales continued an overall uptrend from last year, among which passenger vehicle production and sales reached a five-year high level. In particular, the large growth in the number of new energy passenger vehicles have significantly pushed up demand for semi-steel radial tyre. Meanwhile, sales of commercial vehicles slightly rose from the low sales volume of last year, but were still at a relatively low level in recent five years, which only limitedly drove up demand for all-steel radial tyre.
Written by Cynthia Xin, xinyue@oilchem.net
Edited by Navy Liu, liuchuanjun@mysteel.com
