In August this year, production and sales of automotive vehicles in China amounted to 1.725 million units and 1.799 million units, respectively down 7.4 percent and 3.5 percent month on month, while declining by 18.7 percent and 17.8 percent year on year, according to the China Association of Automobile Manufacturers (CAAM).
In the January-August period of this year, production and sales of automotive vehicles in China amounted to 16.166 million units and 16.556 million units, respectively up 11.9 percent and 13.7 percent year on year.
Production and sales of passenger vehicles in China totaled 1.497 million units and 1.552 million units, down 3.3 percent and remaining stable month on month, while down 11.9 percent and 11.7 percent year on year. In the first eight months this year, production and sales of passenger vehicles in China amounted to 12.891 million units and 13.112 million units, up 15.2 percent and 16.0 percent year on year.
In August, production and sales of commercial vehicles in China reached 229,000 units and 247,000 units, down 27.5 percent and 20.9 percent month on month, while down 46.2 percent and 42.8 percent year on year. In the January-August period this year, sales of commercial vehicles in China amounted to 3.444 million units, up 5.5 percent year on year.
In the given month, production and sales of new energy vehicles (NEV) totaled 309,000 units and 321,000, both up 1.8-fold year on year. In the first eight months, NEV production and sales reached 1.813 million units and 1.799 million units, both up 1.9-fold year on year.
According to CAAM, China may achieve its target ahead of schedule of boosting the market share of NEVs up to 20 percent, compared to previous expectations of achieving this goal by the end of 2025.