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China October passenger vehicle sales drop to 1.2 million units

According to statistics and analysis of China Association of Automobile Manufacturers (CAAM), China automobile sales and production have both exceeded 15 million units accumulatively as of October. Sales and production volume were 1,524,800 and 1,570,200 units in October, a year-on-year decrease of 7.37 and 1.99 percent. Production increased 1.72 percent compared to September, and sales dropped 1.07 percent in the same comparison.

Among main automobile categories, passenger vehicle sales and production volume were 1,220,800 and 1,261,800 units, 7.48 and 1.04 percent drop compared to September, but 1.42 and 5.27 percent increase year-on-year.

From January to October, automobile sales and production accumulated to 15,160,600 and 15,034,100 units, achieving year-on-year growth of 3.15 and 2.66 percent. Passenger vehicle sales and production totaled 11,760,000 and 11,748,400 units, up 5.86 and 5.97 percent year-on-year. Commercial vehicle sales and production amounted to 3,400,600 and 3,285,700 units, down 5.25 and 7.65 percent from last year.

Sales of self-owned brand passenger vehicles declined by 4.63 percent in October compared to September to 498,500 units, a 9.25 percent year-on-year drop. Their market share slipped 4.82 percentage points on a yearly basis to 40.84 percent. Japanese, German, U.S., South Korean and French carmakers took respectively 19.95, 17.17, 11.11, 8.19 and 2.74 percent of the market share.

Self-owned brand passenger car sales reached 246,600 units in October, a decline of 2.25 percent month-on-month and 6.87 percent year-on-year. Market share of self-owned brand passenger cars fell 2.97 percent from the same period last year. In October, Japanese, German, U.S., South Korean and French carmakers had respectively 21.1, 21.64, 15.33, 9.29 and 3.91 percent of the passenger car market share.

From January to October, self-owned brand passenger car sales accumulated to 2,398,500 units, achieving a growth of 3.11 percent compared to the same period last year. Market share of self-owned brand passenger cars decreased 1.37 percentage points year-on-year to 29.08 percent.

October sales numbers are relatively stable. Expiration of the previous energy-saving car subsidy policy and the national holidays had an effect on sales. Vehicle sales in November and December of 2010 were high due to the stimulation of government policies. Sales and production exceeded 1.68 and 1.8 million units in both months. Reaching these figures in November and December of 2011 is almost certainly impossible.

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