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Chinese Automobile Sales in 2019 Shrinks by 8% YoY

Auto News - Published on Fri, 17 Jan 2020

Image Source: reutersmedia.net
China Association of Automobile Manufacturers announced that China auto outputs and sales in 2019 fell 7.5% and 8.2% respectively over a year ago. CAAM said “The smaller decline and month-on-month growth in December were partially due to the consumption potential somewhat unleashed by the auto shows and the Double 12 shopping festival as well as Christmas. Moreover, the Spring Festival holiday in 2020 comes earlier than previous years, correspondingly creating an earlier sales peak season.”

Output Dec'19YoYMoM2019YoY
Total2,683,000 8.1%3.5% 25,720,000 -7.5%
PV2,185,000 6.4%1.0% 21,360,000 -9.2%
CV498,000 16.4%15.6% 4,360,000 1.9%
 

Source CAAM

SalesDec'19YoYMoM2019YoY
Total2,658,000-0.1%8.2%25,769,000-8.2%
PV2,213,000-0.9%7.6%21,444,000-9.6%
CV445,0003.9%11.3%4,324,000-1.1%
 

Source CAAM

China's NEV industry closed its 2019 with a 4.0% year-over-year sales decline. Last month, NEV sales surged 71.4% compared to November, but still plunged 27.4% from the year-ago period. The six-month-in-a-row downturn eventually produced the negative result for the year.

Source :

Posted By : Rabi Wangkhem on Fri, 17 Jan 2020
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