With the coronavirus outbreak under control, new-vehicle sales in China continued to grow for a fourth straight month behind July volume that advanced 16 percent to top 2.1 million.
As in the past three months, growth was led by demand for cargo-carrying trucks, the China Association of Automobile Manufacturers said Tuesday.
Truck sales, benefiting from China’s massive investment in infrastructure projects such as railway and power grid projects, surged 71 percent in July.
Total sales of commercial vehicles including trucks and buses jumped 59 percent to some 447,000 during the month, the trade group said, without providing more details.
Deliveries of light vehicles including sedans, crossovers, SUVs, multipurpose vehicles and minibuses rose for the third straight month, gaining 8.5 percent to approach 1.7 million.
New-vehicle sales across China have dropped 13 percent to below 12.4 million through July, reflecting a 42 percent decline in the first quarter as the virus took root, shuttering assembly plants and showrooms.
In the first seven months, commercial-vehicle sales rose 14 percent to top 2.8 million while light-vehicle deliveries fell 18 percent to 9.5 million.
EV sales rebound
Demand for new electrified vehicles rebounded in July, aided by subsidies offered by municipal and provincial governments, ending a 12-month slump.
Combined sales of full electric vehicles and plug-in hybrids increased 19 percent to nearly 98,000 in July.
EV deliveries rose 24 percent to about 78,000 while plug-in hybrid sales gained 2.7 percent to roughly 19,000.
Through July, aggregate sales of EVs and plug-in hybrids has plunged 33 percent to approximately 486,000.
Despite the market’s extended recovery, CAAM expects annual vehicle deliveries in China to decline 10 to 20 percent in 2020, citing the waning effect of incentives.
It also expects industry-wide sales of electrified vehicles to total 1.1 million in 2020, a drop of 8.8 percent from 2019.