China July Vehicle Sales and Production Rise Y/Y, But Fall M/M

     BEIJING (MNI) - Vehicles sales and production in China rose in July on an

annualized basis but showed a slowdown compared with June, mainly dragged down

by the sluggish performance of the passenger car sector, the China Association

of Automobile Manufacturers (CAAM) said on its website Friday.

     Total vehicle sales, comprising both passenger cars and commercial

vehicles, rose 6.15% in July on an annualized basis to 1.97 million units,

compared with 4.5% growth in June. 

     On a month-on-month basis, sales decreased 9.24% in July, compared with a

3.6% increase in June, according to CAAM.

     In the first seven month of the year, sales increased 4.1% year-on-year to

15.33 million units, 0.29 percentage point higher than the increase in the

January-June period.

     Passenger car sales increased 4.27% year-on-year to 1.68 million in July,

compared with an increase of 2.3% in June, CAAM said, while sales decreased

8.37% on a monthly basis. 

     During the first seven months, passenger car sales grew 1.95% to 12.93

million units, 0.34 percentage point higher than the January-June period.

     Commercial vehicle sales increased 18.36% to 292,800 units in July on an

annualized basis, compared with a decrease of 1.35% in June, CAAM said, adding

that on a m/m basis, sales in July decreased 13.9%.

     In the January-July period, sales of commercial vehicle grew 17.51% to 2.39

million units, 0.12 percentage point higher than sales in the first six months

of the year. 

     Total vehicle production in July rose 4.76% to 2.06 million compared with

the same period last year and a 5.42% y/y increase in June, while production on

a month-on-month basis decreased 4.98%, from 3.86% growth in June, CAAM said.

     In the first seven months, total production rose 4.65% to 15.59 million

units, from 4.64% growth in the first half.

--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com

--MNI Beijing Bureau; +86 (10) 8532-5998; email: vince.morkri@marketnews.com

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