China (CAAM): June automobile sales increased for the third consecutive month: Commercial vehicle driving
Shanghai
July 16, 2020
China Automobile Manufacturers Association (CAAM):
July 10, announced the June vehicle sales volume.
In June, it was 2.3 million units, up 11.6% from the same month the year before.
Since April, it has increased for the third consecutive month from the same month of the previous year, and particularly in the last two months, it has been strong with a double-digit increase.
Breakdown by vehicle type:
Passenger car
1.8% increase to 1,764,000 units.
Although it increased for the second consecutive month, the rate of increase decreased by 5.2 points from May.
Commercial vehicle
536,000 units, up 63.1%.
Record high sales of more than 534,000 units recorded in April (see article on May 14, 2020)
New energy vehicle
Sales in June decreased by 33.1% to 104,000 units, with a decrease of 9.6 points from May, showing no sign of recovery.
CAAM press conference
According to a CAAM press conference held on July 10, China’s economy continued to recover in the manufacturing industry and consumer markets, and overall economic conditions continued to improve, with major infrastructure projects accelerating.
Car consumption stimulus measures
It also says that the automobile market is recovering more than expected due to continuous implementation of measures to stimulate automobile consumption in various regions.
Shanghai
Increase the number of license plates issued (see article on April 30, 2020)
Guangdong
Subsidy payment (see article on May 8, 2020) when rural residents purchase new energy vehicles,
It seems that the automobile consumption stimulus measures implemented in various regions are supporting the automobile sales.
-JETRO
https://www.jetro.go.jp/biznews/2020/07/8a3b760a913e1ae0.html
New car sales in China increased by 11.6% in June, improving 20-year forecast
In June, a major Japanese company, Toyota, Nissan, and Mazda exceeded the previous year’s results.
KYODO