China's auto sales fall 9% y-o-y in November - CAAM
The performance of China’s automotive industry declined on year for the seventh consecutive month in November, with automotive sales and production dropping by ...
Compared with October however, total vehicle sales last month increased by 8.1% to reach 2.5 million units, while output totaled 2.6 million units, higher by 10.9% on month, according to the data.
Over January-November, total sales increased by 4.5% on year to 23.5 million units, while output climbed by 3.5% on year to 23.2 million units. However, the totals were both 1.9 percentage points lower than those over January-October, according to the data.
In November, China's economy grew strongly, which ensured the steady operation of the auto industry, CAAM said. The central government had launched a series of measures guaranteeing energy supply and stabilizing bulk commodity prices. These relieved the pressure of electricity usage restrictions and helped reduce input costs for all manufacturers including those in the auto industry.
For December, vehicle sales will remain firm, but the uncertainties relating to production will linger, as the shortage of semi-conductors still exists and the resurgence of COVID-19 cases may disrupt supply chains, according to the report.
China's sales, production of automobiles
Source: CAAM
Last month within the new-energy vehicle (NEV) sector, electric cars performed the best in both sales and production, with the former jumping by 110% on year to 361,000 units and the latter also soaring by 120% on year to 372,000 units. Over January-November, the sales and production for electric cars both amounted to 2.5 million units, with the former surging by 170% on year and the latter by 180%, according to the official data.
In November, China's auto exports jumped by 59.1% on year to a total of 200,000 units, though these were down by 13.6% from October. Among the total, exports of passenger cars were higher by 71.2% on year at 170,000 units. In this year's first eleven months, total vehicle exports topped 1.79 million units, up by 110% on year, the data showed.
Written by Villanelle Xia, xiayi@mysteel.com
This article has been published under an exchange agreement between MySteel Global and SteelMint.
