China sales increase 5.7% y/y to 2.71 million units in September [ China ]
On October 12, 2017, the China Association of Automobile Manufacturers (CAAM) announced vehicle production and sales results for September 2017. Both production and sales were up on an m/m and y/y basis, with significant rises on m/m. Growth rates of production and sales for Jan-Sep period continued to remain in the range of 4-5%. Among them, the growth rates of passenger vehicles remain lower at about 3% y/y while commercial vehicle maintained healthy at 16-18%.
Production for September increased by 27.6% m/m, and 5.5% y/y to 2.671 million units, while sales rose by 23.9% m/m and 5.7% y/y to 2.709 million units.
Total rates for the period Jan-Sep showed production up y/y by 4.8% to 20.349 million units, while sales improved y/y by 4.5% to 20.225 million units.
Passenger vehicle production for September rose by 28.4% m/m, and 2.9% y/y to 2.297 million units. Sales grew by 24.9% m/m and 3.3% y/y to 2.343 million units. Sales of passenger vehicles with engines of 1.6 liters or less were flat y/y at 1.617 million units, and their share of the total passenger vehicle market declined by 2.2% points y/y to 69.0%.
Commercial vehicle production in September increased by 23.3% m/m and 25.0% y/y to 374,000 units. Commercial vehicle sales rose 17.9% m/m and 23.9% y/y to 367,000 units.
Production of new energy vehicles (NEVs) for September shot up by 79.7% y/y to 77,000 units, while NEV sales also rose dramatically by 79.1% y/y to 78,000 units. Among NEVs, EV production sharply increased by 85.2% y/y to 64,000 units, and sales increased by 83.4% y/y to 64,000 units. Production of plug-in hybrid vehicles (PHEVs) also increased by 57.6% y/y to 13,000 units, while sales showed a similar rise of 61.9% y/y to 14,000 units.
Exports continued their healthy trend for September and showed an increase of 13.0% m/m and 38.9% y/y to 83,000 units. Total exports for the Jan-Sep period went up 26.3% from the same period last year to 623,000 units. Breaking down by segment, passenger vehicle exports improved by 35.6% y/y to 434,000 units, while commercial vehicle exports increased by 9.0% to 188,000 units.
(CAAM press release from October 12, 2017)