Vroom Vroom! China's auto sales zoom!
I have to say this is bullish news for commodities of all kinds. Still not seeing that oft-predicted slowdown. Maybe down the road a ways ...
China's automobile output exceeds 3 million in first five months
China Association of Automobile Manufactures released statistics showing that in the first five months China's automobile output and sales hit a record high to 3.53 million units and 2.9743 million units respectively, an increase of 31.77 % and 30.84% over the same period of last year respectively.
In the five first months, the production and sales of passenger cars amounted to 2.1677 million vehicles and 2.1127 million vehicles respectively, up by 46.15% and 44.21% respectively, and that of commercial cars grew by 6.19% and 6.61% to 885,300 and 861,600 respectively.
Among the passenger cars, the manufacturing and sales of sedans soared by 56.65% and 55.09% to 1.5524 million and 1.5033 million respectively, Multiple Purpose Vehicle (MPV) climbed to 76,900 and 77,000 respectively and Sports Utility Vehicle increased by 96,400 and 97,500 respectively.
In the first five months, China's automobile imports (including the complete sets of automobile spare parts) have soared to 87,000 units, up by 80% over the same period of last year, according to the statistics released by the General Administration of Customs. Analysts said the dealers increased car imports in the first quarter due to the coming increase of consumer tax from April 1st, but the imports saw a decline in April and further drops in May. Despite that, the imports in the first five months witnessed a surge of 80% because of the sharp increase in the first quarter.
China's automobile output exceeds 3 million in first five months
China Association of Automobile Manufactures released statistics showing that in the first five months China's automobile output and sales hit a record high to 3.53 million units and 2.9743 million units respectively, an increase of 31.77 % and 30.84% over the same period of last year respectively.
In the five first months, the production and sales of passenger cars amounted to 2.1677 million vehicles and 2.1127 million vehicles respectively, up by 46.15% and 44.21% respectively, and that of commercial cars grew by 6.19% and 6.61% to 885,300 and 861,600 respectively.
Among the passenger cars, the manufacturing and sales of sedans soared by 56.65% and 55.09% to 1.5524 million and 1.5033 million respectively, Multiple Purpose Vehicle (MPV) climbed to 76,900 and 77,000 respectively and Sports Utility Vehicle increased by 96,400 and 97,500 respectively.
In the first five months, China's automobile imports (including the complete sets of automobile spare parts) have soared to 87,000 units, up by 80% over the same period of last year, according to the statistics released by the General Administration of Customs. Analysts said the dealers increased car imports in the first quarter due to the coming increase of consumer tax from April 1st, but the imports saw a decline in April and further drops in May. Despite that, the imports in the first five months witnessed a surge of 80% because of the sharp increase in the first quarter.
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posted by Sean Brodrick @ 5:38 PM
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