China auto sales in August rise 11.6%, fifth month of gain

[BEIJING] China's auto sales in August rose 11.6 per cent from a year earlier, the fifth consecutive month of gain, as the world's biggest vehicle market comes off lows hit during the coronavirus lockdown.

Sales rose to 2.19 million vehicles last month, showed data from the China Association of Automobile Manufacturers (CAAM).

Overall sales are still down 9.7 per cent for the first eight months of the year at 14.55 million vehicles.

New energy vehicle (NEV) sales in China grew 25.8 per cent on year to 109,000 units in August, a promising sign for global automakers that have invested heavily in electric vehicles in the market.

CAAM expects NEV sales of 1.1 million vehicles this year, down around 11 per cent from last year. NEVs include battery-powered electric, plug-in gasoline-electric hybrid and hydrogen fuel-cell vehicles.

Sales of trucks and other commercial vehicles, which constitute around a quarter of the market, surged 41.6 per cent, driven by government investment in infrastructure and as buyers upgraded to new vehicles to comply with tough emissions rules.

Sales of passenger vehicles rose 6 per cent.

Automakers that have reported sales growth in August include Geely Automobile Holdings and Toyota Motor. General Motors' local ventures, however, saw their sales slide last month.

REUTERS