China sales up Four.5% in June
Sales of Korean vehicles in China have been hit by a dispute over US missiles
Fresh vehicle sales in China enlargened by Four.5% to Two,172,000m units in June, compared with Two,077,000 sales in the same month of last year, according to data released by the China Association of Automobile Manufacturers (CAAM).
Sales of passenger vehicles enlargened by just Two.3% year on year to 1,832,000 units last month, with intense discounting helping to keep the segment afloat. Commercial vehicle sales were up by over 18% at 340,000 units, however, reflecting reasonably strong economic growth in the country.
In the very first half of the year, total vehicle sales were 4% higher at 13,345,000 units, compared with 12,830,000 units in the same period of last year, with passenger vehicle sales up by just 1.6% at 11,253,000 units while commercial vehicle sales were more than 17% higher at Two,101,000 units.
The association said sales of passenger vehicles with engines sized up to 1.6 litres fell by Four.4% to 1,214,000 units in June, compared with peak volumes last year when these cars loved a 50% sales tax discount. In the very first half of the year, sales of these vehicles were Two.6% lower at 7,697,000 units.
SUV request remained strong across the very first half, however, with sales rising by almost 17%, while sales of MPVs fell by close to 16% and crossover vehicles were almost 33% lower.
Chinese brands accounted for just under 44% of the passenger vehicle market in the six month period, with sales rising by Four.3% to Four,940,000 units.
The fresh energy vehicle segment, mostly comprising electrical (EV) and plug-in hybrid vehicles, continued to rebound in June with the sector still loving generous government incentives. The segment expanded by 33% to 59,000 units last month and by 14.4% to 195,000 units in the very first half of 2017, with EV sales rising by over 26% to 160,000 units and cork in hybrids falling by almost 20% to 35,000 units.
General Motors' local joint ventures reported a rebound in June, after two months of decline, with combined sales growing by Four.3% to 285,191 vehicles and cumulative six month sales rising by Two.5% to 1.8m units. The company hopes this rebound will proceed, helped by the introduction of ten fresh and upgraded models in the 2nd half of the year.
Volkswagen brand sales enlargened Five.4% to 232,400 units in June and just 0.2% to 1,395,500 units in the very first half of the year while Audi's sales were up 2% at 51,651 units last month but were 12.2% lower at 253,635 units year to date.
Ford's sales rose by 15% to 100,000 units in June and by 7% to 540,000 units in the very first half of the year while Toyota's sales enhanced 10% to 106,900 units last month and Five.4% to 624,000 units year to date.
Hyundai's sales plunged by 64% to 35,049 units in June, while sister company Kia eyed its sales drop by 58% to Nineteen,003 units, as the fall out from the dispute inbetween China and South Korea over the deployment of the US THAAD missile shield continued to harm South Korean corporate interests in China.