China’s car production and sales continue to grow by 6% & 5% M-o-M in June, NEV manufacture and sales fall: CAAM

China’s automobile production and sales continued robust growth in June, marking the highest on record, according to the data released by the China Association of Automobile Manufacturers (CAAM) on Friday, July 10.

Data showed the production of automobiles was 2.33 million units, bringing the total manufacture to 10.11 million in the first half of 2020 (January to June), down by 16.8 per cent year-on-year.

On a monthly basis, the production in June rose 6.3 per cent, while year-on-year by 22.5 per cent compared to the Y-o-Y hike of 18.2 per cent in the previous month.

Sales increased by 4.8 per cent month-on-month to come in at 2.3 million units in June. On a year-on-year basis, they stood 11.6 per cent higher compared to 14.5 per cent surge in May.

In the first six months, China’s automobile sales totalled 10.26 million units, 16.9 per cent lower than the sales during the same period last year.

China’s NEV production and sales

China’s new energy vehicle production and sales, on the other hand, reported a double-digit decrease for the sixth straight month in June. While the production stood at 102,000 units, down 24 per cent over the year, the sales came in at 104,000, registering a decline of 33.1 per cent from the corresponding period last year.

In the first six months, China’s total new energy vehicle production amounted to 397,000 units, down 36.5 per cent over the year. Total sales stood at 393,000 units, 37.4 per cent lesser than the same period last year.