China February Auto Sales Up 24.5% image

China Association of Automobile Manufacturers declared Friday, March 9th March that China auto sales rose 24.5% year-on-year to reach 1.57 million units in February this year.

The automakers and dealerships managed to recover strongly from a slump in January, resuming normal operations after the Lunar New Year holidays. February saw total sales of 1.21 million sedans, sport utility vehicles and multi-purpose vehicles sold in China.

All in all total sales FOR January and February dropped 6% year-on-year to 2.95 million units, while output declined 4.9% to 2.9 million units. This was the result of the fact that most Chinese worked fewer days in January as a result of the week-long Spring Festival holiday. In January, auto sales plunged 26.4% year-on-year to 1.39 million units, while output slumped 27.47% to 1.3 million units.

In the first two months passenger vehicle sales fell 4.37% to 2.37 million units, sales of commercial vehicles fell 11.91% to 580,600 units, while exports of finished vehicles surged 41.1% in January to 61,200 units, bringing total exports in the first two months to 117,500 units, up 23.5%. The 10 biggest automakers, with Shanghai GM, Shanghai Volkswagen and Jilin-based FAW on top 3, sold 541,500 vehicles in February, accounting for 65.38% of the total.