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China's auto sales increased by 25.6% in the first half

July 14, 2021 5:40 am

China's auto sales rose 25.6% year-on-year to over 12.89 million units in the first half of 2021, data from the China Association of Automobile Manufacturers (CAAM) showed.

Details: Sales of passenger vehicles increased 27% year-on-year to over 10 million units in the January-June period, according to the data.

In the first half, China exported 828,000 vehicles, up by 1.1 times compared with a year ago. In June alone, the vehicle exports hit a record high of 158,000, rising by 5% month-on-month and 1.5 times year-on-year, said CAAM.

Affected by an insufficient supply of chips, auto sales totaled about 2.02 million units in June, down 12.4% year-on-year, while auto production went down 16.5% compared with a year ago to 1.94 million.

Context: Considering uncertainties in the pandemic situation, the global chip shortage, and the rising prices of raw materials, CAAM said it is cautiously optimistic about the future of the auto industry.

The association projected that the country's auto sales would reach 27 million this year, up 6.7% year-on-year. NEV sales are expected to surge 76% from a year earlier to 2.4 million.