China vehicle sales present YoY drop of 13.86% in November

Shanghai (Gasgoo)- China's vehicle outputs and sales in November reached 2,498,400 units and 2,547,800 units respectively, climbing 7.02% and 7.05% over a month ago, while both presented double-digit year-on-year (YoY) decline, according to the data released by the China Association of Automobile Manufacturers (CAAM).

For the first eleven months, China saw its year-to-date (YTD) vehicle outputs and sales edge down 2.59% and 1.65% respectively from the year-ago period, showing YoY downturn the second time of the year.

By the end of November, the PV sector has suffered YoY sales decrease for 5 consecutive months. Meanwhile, the YoY drop in PV monthly sales has increased to 16.06% in November from 5.3% in July. Last month, China's CV sector achieved positive YoY growth in both Nov. sales and Jan.-Nov. sales. 

Compared with the sales performance a month earlier, the car, SUV, MPV and minibus segment all gained positive increase in November. However, all four segments failed to outperform the same period a year ago. Especially, the MPV segment encountered a YoY decrease up to 30.81% in terms of Nov. sales.

As for the Jan-Nov performances, the car and SUV sales slightly fell 1.4% and 0.83% over the previous year. Yet, the YTD sales of the MPV and minibus segment were relatively worse since both of them faced YoY drop of over 15%.