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15 July 2015

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China Auto Sales Rise 5.3 Pct in August

2017-09-13 T | T Download Print

China's auto sales continued to increase in August, evidence of the steady growth of the world's largest car market, data from the China Association of Automobile Manufacturers (CAAM) showed Monday.

Some 2.19 million vehicles were sold last month, up 5.3 percent year on year, maintaining momentum in July that saw sales rise 6.2 percent.

Meanwhile, 2.09 million vehicles were produced in August, up 4.8 percent from the same period last year, according to the CAAM.

In the first eight months, total auto output and sales increased by 4.7 percent and 4.3 percent year on year to 17.68 million and 17.51 million vehicles, respectively.

The market share of domestic brands went up 5.3 percent year on year in August, said the CAAM.

Sales and production of new energy vehicles maintained fast growth. Some 72,000 new energy vehicles were produced in August, up 67.3 percent year on year, and 68,000 were sold, up 76.3 percent from the same period last year.

Earlier data from the China Passenger Car Association showed China sold 54,000 new energy passenger cars last month, surging 25 percent month on month.

The robust growth came as China has intensified efforts to encourage the use of new energy vehicles to ease pressure on the environment, by offering tax exemptions and discounts for car purchases, and ordering government organizations to buy more new energy cars.

China has been the world's largest car market for eight consecutive years.

Source: Xinhua