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PV sales in Chinese Auto Market in November posts almost 5% YoY Decline

Auto News - Published on Tue, 10 Dec 2019

Image Source: China Auto Sale
Car sales in China continued to decline in November, extending a historic slump and all but ensuring a second straight annual drop for the world’s biggest auto market. China Passenger Car Association announced that automakers in China sold a total of 2,075,266 locally produced PVs, referring to cars, MPVs, SUVs and minibuses, in November 2019 posting a year-on-year decrease of 4.7%, while achieving an evident growth of 7.5% from the previous month. Year-to-date auto wholesales volume in China fell 10.2% to 19,276,432 units.

A slowing economy has kept consumers away from showrooms, in particular in areas outside big cities where cheaper local brands are popular. Global automakers such as Japan’s Toyota Motor Corp. and Germany’s BMW AG have weathered the slump better, helped by demand for hybrid cars and premium vehicles. The global companies’ local joint ventures dominate the Chinese car market. They are continuing to invest in China after pouring billions of dollars into setting up factories and sales networks in the country in recent decades.

PeriodCarMPVSUVMinibusTotal
Nov'19 961,636 122,602 959,023 32,005 2,075,266
Oct'19 892,448 129,590 882,678 26,067 1,930,783
Nov'18 1,079,120 147,382 914,691 37,330 2,178,523
MoM Change7.8%-5.4%8.6%22.8%7.5%
YoY Change-10.9%-16.8%4.8%-14.3%-4.7%
YTD Sales,20199,254,9571,219,0658,476,101326,30919,276,432
YTD Sales,201810,499,2141,530,8939,050,967380,29321,461,367
YoY Change-11.9%-20.4%-6.4%-14.2%-10.2%
 

Source - CPCA

Source :

Posted By : Arun Huidrom on Tue, 10 Dec 2019
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