The recovery in China’s auto sector is continuing this month with output in the first ten days up 11.2% year-on-year, according to industry data.
A Xinhua news agency report says that the combined production of 11 major auto producers totalled 473,000 units, up 11.2% year-on-year, according to a report released by the China Association of Automobile Manufacturers (CAAM).
However, the report also noted the figure marked a 24% decline compared with that in the first 10-day period of July (when output surged).
The Xinhua report said that output of passenger cars rose 6.8% year-on-year to reach 415,000 units in early August, while that of commercial vehicles surged 58.1% year-on-year to 58,000 units.
China’s new vehicle market continued to recover in July 2020, with sales rising by 16.4% to 2.11m units from 1.81m units in the same month of last year, based on passenger car and commercial vehicle wholesale data released by the China Association of Automobile Manufacturers (CAAM).
See also: China sales rise 16% in July