New-energy vehicles production and sales during Jan-Oct soared 70% & 75.6% Y-o-Y in China

The data from China Association of Automobile Manufacturers (CAAM) indicates that sales and production of automobiles in October have extended weak performances.

In October, production of cars stood at 2.33 million units, 10.05 per cent lower from the same period last year and 0.92 per cent down from September. Sales also came down by 11.7 per cent year-on-year and 0.58 per cent month-on-month to 2.38 million units.

This brought in the overall production and sales of domestic automobile during January-October to 22.83 million units and 22.87 million units, down 0.38 per cent and 0.06 per cent year-on-year, respectively.

Separately, some 138,000 new-energy vehicles (NEVs) were sold across China in October, an increase of 51 per cent from October 2017, CAAM data showed.

This grew overall NEVs sales in January-October to 860,000 units, up 75.6 per cent on a yearly basis.

NEVs production also soared during October to 146,000 units, up 58.1 per cent from a year earlier, bringing total production during January-October at 879,000 units, 70 per cent higher from the same period last year.

This surge in NEVs production and sales indicates the rising demand and use of aluminium alloy as well. Chris Zang, project manager of Aluminium China stated: "Backed by in-depth market research designed to understand new energy auto needs; Aluminium China will help businesses expand into these exciting new markets."

According to another data shared by China Passenger Car Association (CPCA) in the week of November 5, retail sales of passenger vehicles in China continued to post a double-digit contraction in October, and at a higher pace than September.

In October, about 1.98 million tonnes of passenger vehicles including sedans, SUV, multi-purpose vehicles (MPV) and mini-vans were sold, standing 13.2 per cent lower than October 2017.

CPCA data showed that the sales for September came in at 1.93 million tonnes, down 13.1 per cent from a year earlier.

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