Meghavi Singh,
Wengen Ling/iStock through Getty Photographs
- Based on knowledge from the China Affiliation of Vehicle Producers, China’s whole car gross sales dropped by 5.0% from a 12 months earlier to 2.45 million models in August 2024, softer than a 5.2% decline within the earlier month, primarily as home demand for passenger automobiles fell amid weak shopper spending. The determine contains exports.
- It famous that gross sales of latest vitality autos surged by 30.02% to 1.1 million models, accounting for 44.8% of whole automobile gross sales in August.
- Complete auto exports additionally jumped 25% y/y to 511,000 autos.
- The general lower in gross sales got here regardless of the Chinese language authorities’s implementation of coverage measures geared toward revitalizing the auto market, as famous by Chen Shihua, the deputy secretary-general of CAAM.
- From January to August, car gross sales grew by 3.0% to 18.77 million models. Throughout the interval, the automobile manufacturing rose by 2.5% y/y, reaching 18.67 million models.
- ETFs: (FXI), (KWEB), (CQQQ), (MCHI), (ASHR), (YINN), (TDF), (CHIQ), (GXC), (EWH), (KBA), (YANG), (CXSE), (CAF), (CWEB), (PGJ), (KURE).
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Extra on auto shares
