China’s automobile production grows 46.4% Y-o-Y during early August’20, but edges lower by 16% M-o-M: CAAM
China Association of Automobile Manufacturers (CAAM) found a month-on-month decline of 15.8 per cent in automobile production by 11 key Chinese automakers during early August. According to the data revealed by CAAM, automobile output stood at 1.11 million units, which was, however, higher by 46.4 per cent from the production during the same period last year.
Sales in early August came in at 939,000 units, down by 0.3 per cent month-on-month and 4.2 per cent year-on-year, showed the latest data of CAAM.
Production of passenger vehicles was at 934,000 units, falling 16.1 per cent from early July but up by 39.9 per cent from a year ago. Sales, on the other hand, inched up by 0.1 per cent month-on-month to 825,000 tonnes, however, stood down by 7.9 per cent from the same period last year.
Commercial vehicle production also stood down month-on-month by 14.2 per cent to 177,000 units, but up by 88.2 per cent over the year. Sales came in at 114.000 units, down 2.7 per cent on the month, while higher by 36.3 per cent from the corresponding period of last year.
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