China Automotive Technology & Research Center released a report on the production and sales of domestic automobile. In the first half of this year, the domestic car production was 8,472,200 units and the terminal sales were 7,185,300 units, up 44,37% and 30,45% from a year earlier respectively, retaining China’s first position in global auto markets.
According to the released data, the terminal sales of domestic cars in June was 1,132,000 units, up 13,97% year on year, down 5,25% month on month.
Zhao Hang, director of the China Automotive Technology & Research Center said the situation of the domestic market in the first half of this year can be summarized as “good start, stable increase”. The production capacity of domestic cars in January was 1.5 million units, which was a good start; the production capacity in March broke a monthly record to 1.7 million. Due to the sales decline in the auto market later, however, the production was reduced progressively.
Zhao said the rising GDP growth rate and the increasing purchasing power of consumers will lay a solid foundation for the development of the auto industry.
With the accelerating process of urbanization, the rapid development of the second- and third-tier markets will also drive the growth of the auto market.
In addition, the subsidy policies for the energy saving and new energy vehicles will further stimulate the car market.