China sales increase 4.5% y/y to 2.17 million units in June [ China ]
On July 11, 2017, the China Association of Automobile Manufacturers (CAAM) announced vehicle production and sales results for June 2017. Production and sales showed marginal increases on both a month-over-month (m/m) basis and a year-over-year (y/y) basis. The growth rates of the first half of 2017 for passenger car production and sales were slowed, but commercial vehicle sales and production remained favorable.
Production totaled approximately 2.167 million units, a 3.9% increase m/m basis and a 5.4% increase y/y. Sales were approximately 2.172 million units, up 3.6% m/m and up 4.5% y/y.
Year-to-date (YTD) production from January through June reached 13.526 million units, a 4.6% increase y/y, while sales reached 13.354 million units, a 3.8% rise y/y. Growth rates for sales and production was slowed by 1.9% points y/y and 4.3% points y/y respectively.
Passenger car production in June was approximately 1.845 million units, an 5.6% increase m/m and a 3.7% increase y/y. Passenger car sales were approximately 1.832 million units, up 4.6% m/m and up 2.3% y/y. Sales of small vehicles with 1.6-liter or smaller engines declined 4.4% y/y to approximately 1.214 million units, which accounted for 66.3% of all passenger vehicles sold in the month.
Commercial vehicle production in June was approximately 323,000 units, a 4.9% decrease m/m and a 16.4% increase y/y. Commercial vehicle sales were approximately 340,000 units, down 1.4% m/m and up 18.4% y/y.
As for new energy vehicles, production in June reached 65,000 units, a 43.4% increase y/y, and sales totaled 59,000 units, a 33.0% gain y/y. By vehicle type of new energy vehicles, electric vehicle (EV) production reached 54,000 units, up 52.9% y/y, and EV sales totaled 48,000 units, up 41.4% y/y. Production of plug-in hybrid vehicles (PHEVs) totaled 11,000 units for a y/y increase of 10.1%, and PHEV sales totaled 11,000 units for a y/y rise of 5.3%.
Vehicle exports in June reached approximately 81,000 units, a m/m increase of 14.6% and a y/y increase of 18.8%. YTD exports totaled approximately 396,000 units (up 26.2% y/y), with passenger vehicles reaching 273,000 units (up 36.5% y/y) and commercial vehicles reaching 123,000 units (up 8.1% y/y).
(CAAM press release from July 11, 2017)