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Free AccessChina Vehicle Sales And Production Show Monthly Dip In Oct
--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
website Friday.
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
period.
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
the year.
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
said.
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.
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: vince.morkri@marketnews.com
[TOPICS: MAQDS$,M$A$$$,M$Q$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.