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Auto market climbs as factories reopen

(ATF) China’s auto production and sales rebounded in April thanks to a slew of government stimulus measures and the accelerating restoration of business activities, official data showed on Monday.

Automobile sales increased 4.4% year-on-year to 2.07 million units last month, ending a contraction streak over the past 21 months, the China Association of Automobile Manufacturers (CAAM) said at an online press conference.

Output hit 2.1 million units, up 2.3% year on year.

On a monthly basis, output and sales soared 46.6% and 43.5%, respectively.

In breakdown, output and sales of commercial cars both hit a monthly record high in April, climbing 31.3% and 31.6% to 514,000 units and 534,000 units, respectively.

Meanwhile, the output of new-energy vehicles slid 22.1%, while sales dropped 26.5 %, CAAM said.

During the first four months, China’s auto production and sales came in at 5.6 million units and 5.76 million units, down 33.4% and 31.1% year on year, respectively.

Expansion in the auto market in April could be partly attributed to the accelerating restoration of business activities as COVID-19 cases decline, the organization said.

About 204 factories of 23 major vehicle manufacturers, whose annual sales account for more than 96% of China’s total, have resumed production, CAAM said.


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