China: Vehicle sales rose 12.5 percent in October

Last Updated: November 20, 2020By Tags: , ,

Sales of vehicles, including trucks and buses, in China, rose 12.5 percent in October from a year earlier.

The auto industry has been recovering from the effects of the coronavirus pandemic, but overall sales in the first ten months of this year are still below pre-coronavirus levels, the Association of Chinese Automobile Manufacturers (CAAM) announced on Wednesday.

According to CAAM, sales in the world’s largest car market rose to 2.6 million vehicles in October, or 12.5 percent. They add that sales of SUVs and other passenger vehicles grew faster than total sales.

By October this year, total vehicle sales fell to 19.7 million, or 4.7 percent compared to the same period last year. Still, that’s an improvement from a 6.9 percent decline in the first nine months of the year.

China became the first major economy to begin fighting to resume normal activity after the ruling Communist Party declared victory over the coronavirus in March.

However, CAAM warned that carmakers face a “complex and serious” international environment and potential risks. Demand for cars was already weak even before China closed factories and dealerships in February to fight coronavirus

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