New-vehicle demand in China continued to rise in the first 20 days of July, extending gains that started in April as the coronavirus outbreak waned, figures released Wednesday by the China Association of Automobile Manufacturers show.
During the first 20 days, new-vehicle sales at all foreign automakers producing in China, as well as at 11 major domestic manufacturers, which account for nearly all vehicle output in China, surged nearly 37 percent to some 942,000.
Sales of light vehicles including sedans, crossovers, SUVs, multi-purpose vehicles and minibuses advanced 34 percent to roughly 825,000, CAAM said. Deliveries of commercial vehicles such as buses and trucks soared 62 percent to around 117,000, according to the trade group.
Among the 11 Chinese automakers, eight are state-owned – SAIC Motor Corp., Dongfeng Motor Group, China FAW Group, Changan Automobile Co., GAC Motor Co., Brilliance China Automotive, Jianghuai Automobile Co. and Chery Automobile Co. Three are privately owned – Geely Automobile Holdings, Great Wall Motor Co. and BYD Co.
After plunging 42 percent in the first quarter as the viral outbreak forced factories and showrooms to close, overall new-vehicle sales resumed growing in April behind robust demand for commercial vehicles.
In June, industry-wide new-vehicle demand rose 12 percent to around 2.3 million, with light-vehicle sales gaining 1.8 percent to 1.764,000 while commercial-vehicle deliveries surged 63 percent to 536,000.
In the first six months, total new-vehicle deliveries in China fell 17 percent to below 10.3 million. Light-vehicle sales slipped 22 percent to just under 7.9 million while commercial-vehicle deliveries increased 8.6 percent to approach 2.4 million.