China auto prices slightly down in Aug from July image

China’s domestically-made and imported vehicles saw prices slightly down in August from July, according to a report for the country’s top economic planner, xinhuanet.com reported today.

Prices of domestically-made vehicles were down 0.16% in August from July, but up 0.21% from the same period last year, said the price monitoring report from the National Development and Reform Commission (NDRC).

Passenger vehicle prices increased 0.09% month on month (m/m), but dived 2.32% year on year (y/y). Commercial vehicle prices dropped 0.51% m/m, but soared 3.65% y/y.

Prices of imported cars dropped 0.17% in August from July, but added 6.11% y/y. Analysts attributed the prices drop to expanded production capacity and seasonal price fluctuations.

China’s auto sales in August surged 82% y/y to 1.14 million units. Passenger car sales, including the sedan, MPV, SUV and minivan, soared 94.7% y/y to 849,376 units last month.

Source: Gasgoo