Better than expected, China’s auto sales rose on year and on month for the second successive month in May after a 21-month continuing drop, up 14.5% on year or 5.9% on month to 2.2 million units, mainly due to the government’s preferential policies and robust demand for trucks for infrastructure construction, according to the release from the China Association of Automobile Manufacturers (CAAM) on June 11.
China’s sales of excavators for both domestic and overseas customers for May had rose on year for the third successive month, up 68% on year, as end-users had been booking in anticipation of more construction projects in the coming months, according to the latest statistics from the China Construction Machinery Association (CCMA) on June 9.
The combined gross profit of enterprises in China’s auto industry surged 29.5% on year during April, according to the latest release by China’s National Bureau of Statistics (NBS) on May 27. The sector received a moderate boost from the rise in sales last month – reflecting the lift in demand that had been delayed by the battle against COVID-19 – but market sources warn that the handsome profits would be difficult to repeat.
China’s production of air-conditioners dropped by 24.8% on year over the first four months of 2020, though the pace of the decline slowed marginally from the 27.9% decrease seen during January-March, according to the latest data from China’s National Bureau of Statistics (NBS). Demand for the units has not fully returned, and concerns about retreating global demand and hovering high stocks saw makers continue to restrain production, market sources said.
China has decided to continue providing the subsidies now in place on new-energy vehicles over 2020-2022 in order to boost NEV sales, though the size of the incentives will decline, according to an official release from China’s Ministry of Finance (MoF) on April 23.
China’s production of white goods with air conditioner in particular, slumped 10-30% on year for the first quarter of 2020 because of the COVID-19 outbreak first in China in late January and then the worldwide starting early march, according to the latest statistics released by China’s National Bureau of Statistics (NBS).
China’s auto production and sales experienced significant declines in Q1, mainly due to the rapid spread of COVID-19 across the country, according to the latest release from the China Association of Automobile Manufacturers (CAAM) on April 10. However, the pace of decline slowed down in March as car makers resumed operations and consumption was propped up by government-backed stimulus policies.
China’s excavator sales including those to domestic customers and for export declined by 8.2% on year during this year’s January-March quarter, mainly as domestic demand over the first two months was essentially frozen amidst the COVID-19 diffusion nationwide, according to the latest statistics from the China Construction Machinery Association (CCMA) published on April 9. Significantly though, sales in March surged by 11.6% as business began recovering in rural areas, the association noted.
China’s sales of heavy-duty trucks in the 14- to 100-tonnes class in this year’s first quarter decreased 18% on year to some 267,200 units, mainly due to the negative effect of the COVID-19 outbreak nationwide, according to the latest data from Commercial Vehicle World (CVWorld).
China’s Vehicle Consumption Index surged 123% or by 34.7 on month to record 63 in March, but remained much lower than the benchmark of 100, due to lower consumer incomes and the public’s hesitation to spend in the wake of the COVID-19 crisis and the faltering domestic economy, according to the latest statistics of China Automobile Dealers Association (CADA) for April.