China's automobile industry showed a growing trend in August, with both production and sales of vehicles increasing month on month, while those of new energy vehicles (NEVs) recorded a double-digit year-on-year growth, according to data from the China Association of Automobile Manufacturers on Tuesday.
In August, auto production and sales in China surpassed 2.49 million and 2.45 million units, respectively, showing month-on-month increases of 9 percent and 8.5 percent, with year-on-year decreases of 3.2 percent and 5 percent, indicating a smaller decline compared with the previous month.
During the January-August period, auto production and sales totaled about 18.67 million and 18.77 million units respectively, reflecting year-on-year growth of 2.5 percent and 3 percent, respectively.
In August, the production and sales of NEVs achieved 1.09 million and 1.10 million units, respectively, representing an increase of 29.6 percent and 30 percent year on year. The sales of NEVs in August account for 44.8 percent of the new vehicle sales in China.
In the first eight months of this year, the production of NEVs reached nearly 7.01 million units, rising 29 percent year on year. The sales of NEVs hit almost 7.04 million units, growing by 30.9 percent from a year earlier. The market share of NEVs in China reached 37.5 percent in the period.
On the export front, auto exports reached 511,000 units in August, marking a year-on-year increase of 25.4 percent. Among these, exports of NEVs totaled 110,000 units, showing a 22-percent growth year on year.
China's auto industry reports rising vehicle production, sales in August
