China’s Vehicle Sales, Output Top Year-Ago Pace
Despite the overall positive numbers, year-to-date declines in commercial-vehicle sales and production hinted at the country’s slowing economy.
China’s new-vehicle sales increased 8.3% year-on-year in August to 1.49 million units, the China Association of Automobile Manufacturers reports.
Production rose 7.8% to 1.5 million units.
The government’s Xinhua news agency reports the CAAM figures show passenger-vehicle sales climbed 8.1% in the year’s first eight months to 10 million units, while production grew 8.7% to 10 million.
In a reflection of China’s slowing economy, year-to-date commercial-vehicle sales fell 8.9% to 2.5 million units as CV production slowed 7.2% to 2.47 million units.
Production for the first eight months was up 5.2% to 12.47 million units.
Meantime, Xinhua quotes Fisker Automotive founder Henrik Fisker as saying the auto maker’s high-end electric Karma sports car will launch in the Chinese mainland market in November as part of its Asia expansion.
Fisker says industry veteran Joe Chao has been appointed executive vice president and CEO of Fisker Automotive’s China and Asia operation and likely will establish its Chinese headquarters in Shanghai.
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