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--Growth Slows In Both On Annualized Basis
BEIJING (MNI) - Vehicles sales in China decreased in October compared with
September, the China Association of Automobile Manufacturers (CAAM) said on its
On a month-on-month basis, total vehicle sales, comprising both passenger
cars and commercial vehicles, decreased 0.2% to 2.70 million units, compared
with an increase of 23.9% in September, according to CAAM. On an annualized
basis, total vehicle sales rose 2%, compared with 5.7% growth in September.
In the first 10 months of the year, sales increased 4.1% year-on-year to
22.93 million units, compared with 4.5% growth in the January-September period.
Passenger car sales increased 0.4% y/y in October to 2.35 million units,
compared with an increase of 3.3% in September, CAAM said, while sales rose 0.4%
on a monthly basis, compared with an 24.9% increase in September.
During the first 10 months, passenger car sales grew 2.1% y/y to 19.5
million units, compared with 2.4% y/y growth during the January-September
Commercial vehicle sales increased 14.8% to 351,000 units in October on an
annualized basis, compared with an increase of 23.9% in September, CAAM said,
adding that on a m/m basis, sales in October declined 4.1%, compared with an
increase of 17.9% in September.
In the January-October period, sales of commercial vehicles grew 17.2% to
3.43 million units, compared with growth of 17.9% in the first nine months of
Total vehicle production in October rose 0.7% year-on-year to 2.60 million
units, compared with 5.5% growth in September, while production on a
month-on-month basis contracted 2.5% from a 27.6% increase in September, CAAM
In the first 10 months, total production rose 4.3% to 22.96 million units,
0.5 percentage point lower than the y/y growth in the first nine month.
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