CHINA AUTO: Output, sales rise in December but both down 2% in 2020
Chinese automotive output and sales dipped by just 2% in 2020 from a year earlier after a sustained recovery in the second half of the year. Continuous year-on-year growth in December in both sales and output continued to provide support to upstream raw material prices.
China produced 25.23 million vehicles in 2020 while sales amounted to 25.31 million units, according to data released by the China Association of Automobile Manufacturers (CAAM) on Wednesday January 13.
Automotive output and sales in China have both gradually recovered since April 2020, after the Covid-19 outbreak in the country was brought under control, and have recorded year-on-year gains in each subsequent month.
For December, carmakers in the country produced 2.84 million units, up by 5.7% from a year ago, while sales rose by 6.4% year on year to 2.83 million units.
Output of new energy vehicles (NEVs) increased by 7.5% to 1.37 million units in 2020, from 1.24 million units in 2019. Total sales of these vehicles increased by 10.9% year on year to 1.37 million units last year, up from 1.21 million units in 2019, CAAM data shows.