China's automobile production and sales have maintained a trend of month-on-month improvement

author：华亿(中国)官方newstime：2012-08-14

The China Association of Automobile Manufacturers recently revealed that in the first seven months of this year, China's automobile production and sales reached 10.9687 million and 10.9794 million units, respectively, representing year-on-year growth of 4.8% and 3.6%. The growth rates increased by 0.8 and 0.6 percentage points compared to the first six months, maintaining a trend of month-on-month improvement.

In the first seven months, domestic brand passenger car sales totaled 3.5641 million units, an increase of 1.2% year-on-year, which is 6.4 percentage points lower than the overall growth rate of passenger cars. Domestic brand passenger cars accounted for 40.8% of total passenger car sales in China, a market share decrease of 2.6 percentage points year-on-year.

Looking at the year-on-year growth of foreign brand passenger cars in the first seven months: Japanese, German, American, French, and Korean brands all showed positive growth, with German brands growing by 20.5%, far surpassing the growth rates of other brands. In terms of cumulative market share growth compared to the same period last year, German and Japanese brands increased significantly, while Korean, American, and French brands remained relatively stable.

According to a spokesperson from the China Association of Automobile Manufacturers, at the end of July, the inventory of Chinese automobile enterprises was 736,300 units, an increase of 47,700 units compared to the end of June. Overall, the current enterprise inventory is at a normal and reasonable level. Additionally, the inventory level of commercial vehicles has been declining for six consecutive months, reaching the lowest level since October 2009. The decline in enterprise inventory indicates that commercial vehicle enterprises remain cautious about future market prospects.

It is worth noting that in the first six months of this year, the performance of China's automobile imports and exports was generally positive, with a total import and export value of $77.486 billion, a year-on-year increase of 18.8%. Among this, the import value grew by 20.5% year-on-year, while the export value increased by 16.9% year-on-year.

A spokesperson from the China Association of Automobile Manufacturers stated that since entering 2012, there have been noticeable changes in China's automobile export situation, specifically with the value growth significantly outpacing quantity growth. This is mainly due to the diversification of export models, improved product quality, price increases, and exchange rate changes. Among the main types of complete vehicle exports, trucks and buses saw the largest increase in export unit prices, while cars saw a relatively smaller increase.