Sales figures for new cars in China in the fast lane

17. September 2020

In China, sales figures for new vehicles in July rose by 16.7 percent year-on-year to the equivalent of 2.11 million. The data was published by the Chinese Automobile Manufacturers Association (CAAM). July is thus the fourth month in a row with positive growth. However, losses were recorded in the first seven months of the year. A decrease of 12.7 percent was recorded, which is due to adverse economic conditions and weak consumer confidence caused by the coronavirus.

 

 

July followed solid growth in June and May of this year with growth rates of 11.6 and 14.5 percent respectively. These figures suggest that under certain conditions the automotive market in China has recovered rapidly. According to CAAM, favorable policies of both central and local governments and a return to good consumer sentiment have been key factors in this development. The CAAM manufacturers’ association hopes that local governments will continue to provide incentives to boost sales of new cars. It reminds car manufacturers to pay special attention to the latest announcements and to plan their production and operations accordingly.

Of the 2.1 million new vehicles sold in July, 1.67 mllion were passenger cars and 447,000 were commercial vehicles. The growth rates compared with the previous year were 8.5 and 59.4 percent respectively. A twelve-month downward trend in vehicles with new-energy drives was broken in July. Compared to the previous year, sales of electric cars rose by 24.2 percent to 79,000 vehicles, and plug-in hybrids by 2.7 percent to 19,000 vehicles. The number of nationwide charging stations amounts to 566,000, with 7,800 new stations installed in July alone. In the area of CCC certification of automotive parts and vehicles, the Chinese requirements are particularly high. If you need CCC certification in the automotive sector, China Certification is an excellent partner for you. We have been advising leading automotive suppliers and vehicle manufacturers on their CCC certifications for years.

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