China’s YTD vehicle outputs, sales by Oct. post YoY drop for the first time in 2018

Shanghai (Gasgoo)- China's vehicle outputs and sales in October reached 2.334 million units and 2.38 million units respectively, edging down 0.9% and 0.6% over the previous month, while evidently dropping 10.1% and 11.7% from a year ago, according to the data released by the China Association of Automobile Manufacturers (CAAM). 

For the first ten months, China saw its year-to-date (YTD) vehicle outputs and sales slightly decline 0.4% and 0.1% year on year (YoY) to 22.826 million units and 22.871 million units respectively, presenting YoY downturn for the first time of the year.

The Oct. outputs and sales for both PV and CV sectors were all outperformed by that of a year earlier. The PV sector, with 2.002 million units produced and 2.047 million units sold last month, even somewhat trailed the performance in September.

From January to October, China's YTD PV outputs and sales amounted to 19.35 million units and 19.304 units respectively, slightly falling 1.0% and 0.1% compared with the year-ago period.

The car, SUV, MPV and minibus segments all posted YoY negative decline in Oct. sales. Compared with the performance a month earlier, the SUV outputs and MPV sales in October had respective growth rate of 3.5% and 0.2%.

As for Jan-Oct performances, the SUV outputs totaled 8.227 million units with a YoY increase of 2.5%. In addition, the car cumulative sales basically remained the same as the year-ago period and the SUV YTD sales reached 8.106 million units with a YoY climb of 1.6%.