China, car market crash in October

26/11/2018

 

Auto sales fell 0.66% from September and 12.99% from 2017

 

The Chinese car market, and in particular that of cars for private use, did not go very well in October. According to the data, in fact, vehicle sales in China amounted to 2.05 million units in October, down 0.66% compared to September and down 12.99% compared to the same month of last year.

The data were announced by the Chinese Automobile Manufacturers Association and, according to data, aggregate sales for the first 10 months of 2018 fell by 1.02% year-on-year to 19.3 million units.

 

Growth was registered in the sports sector, where vehicles sold grew by 1.55%

 

During the period, crossover utility vehicles posted the biggest slump of 19.05 percent with a sales volume of 367,400 units, followed by a decline of 14.14 percent in the sales of multi-purpose vehicles.

But not all car categories have seen a decrease in sales. In fact, sports vehicles saw an increase of 1.55% on an annual basis and around 8.11 million units of sports vehicles were sold. The sale of cars, in general, decreased by 0.04% to 9.42 million units.

Approximately 8.09 million units or 41.91% of total passenger cars are Chinese domestic brands, while German and Japanese vehicles account for 21.63% and 18.61% of sales respectively.

 

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