Private car sales in China increased by 8,8 percent in August compared to the same period last year. China's Private Vehicle Manufacturers Federation announced that sales in August were the highest increase since May 2018.
In the past month, a total of 1 million 730 vehicles were sold in August, according to the figures of the China Special Vehicle Manufacturers Federation. Sales increased by 6,5 percent compared to the previous month. These data prove the reality of signs of recovery in the world's largest automobile market, following the course of the coronavirus crisis at the beginning of the year. The Federation also draws attention to the fact that a very significant increase has been detected in the luxury car sales of August, with an increase of 32 percent compared to last year and 3 percent compared to the previous month.
In fact, the Chinese automobile industry was severely damaged by the Covid-19 outbreak. In February, when the epidemic and transmission process were most intense, when the Chinese closed their homes for fear of contracting the disease, vehicle sales dropped by 80 percent compared to a year ago.
The market later reached a rapid recovery as the effects of the epidemic eased. So much so that car sales entered an upward trend with an increase of 1,9 percent in May for the first time after the beginning of the year. However, the level of sales was well below the level of the previous year. As a matter of fact, the sales figure for the first eight months of the year was 15,2 percent behind the previous year.
The automobile industry is vital to the economy of the Asian giant and is one of the first to benefit from state support. With these numbers, China has become the world's largest automobile market in recent years.
Chinese International Radio