China auto sales jump 11.6% year on year in Aug.
Shanghai (Gasgoo)- In August, China auto outputs and sales reached 2.119 million units and 2.186 million units, growing 6.3% and 11.6% year on year respectively, according to the China Association of Automobile Manufacturers (CAAM).
As of August, the world's largest auto market had posted increase in both outputs and sales for the fifth month in a row.
The increase in Aug. auto outputs largely owed to the 42.8% vigorous leap in CV production volume. PV outputs basically remained flat over the year-ago period.
As for sales, the CV unit obtained a 41.6% year-on-year surge last month, while PV sales also represented a 6% increase, which was to large extent accountable for the overall auto sales growth.
The upturn in Aug. PV sales flowed from the growth achieved by all of four segments. To be specific, car and SUV sales climbed 5.8% and 6.5% from a year earlier respectively. Besides, MPV and minibus sales represented 1.1% and 17.2% of upward movement over the previous year.
The decrease in year-to-date sales contracted to 9.7% by the end of August, 3 percentage points lower than the decline in Jan.-Jul. sales.
The shrunken drop was completely due to the increase in the year-to-date CV sales. However, the 15.4% year-on-year decrease in the Jan.-Aug. PV sales should be entirely blamed for the overall downturn.
According to the CAAM, new energy vehicle (NEV) outputs and sales stood at roughly 106,000 units and 109,000 units in August, jumping 17.7% and 25.8% from the prior-year period respectively and setting new record-breaking figures in term of August volume.
The association said the steadier and sturdier NEV sales growth was partly credited to the programs for bringing automobiles to the countryside and local governments' support over NEV consumption.
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