China Automobile Sales Hit Record High in Jun
China Automobile Sales Hit Record High in JunIn the first half of 2020, China’s automobile industry was heavily attacked by the coronavirus outbreak. Especially in February, China’s automobile sales and output both dropped sharply. In February, China’s automobile sales and output was 285,000 and 310,000 respectively. But with the economic recovery, China’s automobile industry improved gradually. Meanwhile, local governments in some provinces released supportive measures to stimulate the automobile sales. In June, China’s automobile output increased to 2,325,000, with an increase of 6.3% from May and an increase of 22.5% on a year-on-year basis. In June, China’s automobile sales increased to 2,300,000, with an increase of 4.8% from May and an increase of 11.6% on a year-on-year basis. China’s automobile output and sales both hit record highs in June.
From January to June, China’s automobile output and sales was 10.112 million and 10.257 million respectively, down 16.8% and 16.9% respectively from the same period of last year. From January to June, China’s new energy automobile output and sales was 3.97 million and 3.93 million respectively, down 36.5% and 37.4% respectively from the same period of last year.
According to the Ministry of Public Security, as of the end of June, China’s automobile possession reached 270 million, up 8% from the same period of last year. Therein, China’s new energy automobile possession reached 4.17 million as of the end of June, up 9.45% from the end of 2019 and up 21.22% from the same period of last year.
China’s Spring Festival holiday was lengthened in the first quarter of this year, due to the coronavirus outbreak. This dragged down China’s domestic consumption of gasoline. According to SCI, China’s domestic gasoline consumption volume in February dropped by 46% from January. But from March, China’s automobile industry started recovery. The automobile industry recovery pushed up the domestic consumption of gasoline. In March, China’s gasoline consumption increased by over 74% from February. And in May, China’s gasoline consumption returned to the normal level.
