The China Association of Automobile Manufacturers (CAAM) reported today (the 11th) that China's trade-in policy continues to show results, with new models continuously released and the auto market operating smoothly. From January to July, auto production and sales achieved double-digit year-on-year growth.
The latest data shows that from January to July, automobile production and sales reached 18.235 million and 18.269 million units, respectively, up 12.7% and 12% year-on-year, with the growth rates of production and sales increasing by 0.2 and 0.6 percentage points, respectively, compared with the January to June period. Among them, the production and sales of new energy vehicles reached 8.232 million and 8.22 million units, respectively, up 39.2% and 38.5% year-on-year, accounting for 45% of total new car sales.
In terms of automobile exports, new energy vehicle exports have become the driving force for the growth of automobile exports. From January to July, 1.308 million new energy vehicles were exported, an increase of 84.6% year-on-year.
A representative from the China Association of Automobile Manufacturers stated that the national government has recently issued the third batch of ultra-long-term special government bonds to support the trade-in of consumer goods, with the fourth batch to be issued as planned in October. This will help stabilize consumer confidence, continue to boost auto consumption, and ensure the smooth operation of the industry in the second half of the year.