Jan China Gasoline Consumption Surged Y-O-Y on Boomed Automobile Industry
In January 2020, due to Chinese New Year holiday and the breakout of the public health event, many enterprises postponed their restart of operation. The automobile industry was severely impacted, and both the automobile output and sales volume slumped M-O-M and Y-O-Y. In January 2021, though the public health event in a few regions repeated, the overall pandemic was largely controlled, supporting the automobile industry to improve steadily.
According to the statistics released by China Association of Automobile Manufacturers, in January 2021, China’s automobile output was 2.388 million, up 34.6% Y-O-Y, and the automobile sales volume was 2.503 million, up 29.5% Y-O-Y. As for new energy vehicles, the output was 0.194 million, up 285.8% Y-O-Y, and the sales volume was 0.179 million, up 238.5% Y-O-Y. The automobile output and sales volume have been increasing Y-O-Y for 10 consecutive months, and the new energy output and sales volume have been rising Y-O-Y for 7 consecutive months.
