China Car Sales Growth Continues to Falter in July

By Douglas A. McIntyre Updated Aug 12, 5:51AM EDT · Published Aug 12, 4:04AM EDT

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Despite some year-over-year improvement of sales in July, China’s car market remains relatively troubled, as its sales improvement rate runs slightly behind that of the United States. As the economy in the People’s Republic slows, growth may deteriorate further. Modest factory activity and PMI should cap wages for China’s large middle class. Anti-air pollution policies in the largest cities also may undermine sales

The local trade association reported:

According to statistics and analysis of China Association of Automobile Manufacturers (CAAM), China automobile sales were 1,516,290 units in July, decrease 13.56% compared with last month, and increase 9.93% compared with the same period of last year. Among main automobile categories, passenger car sales was 1,237,569 units, decrease 11.82% compared with last month, and up 10.48 percent year on year; the sales of commercial vehicle was up to 278,694 units, decrease 20.52% compared with last month, and up 7.54 percent year on year.

From January to July, Chinese auto sales exceeded 12,298,593 units, increase 9.93 percent compared with the same period of last year. Passenger car sales increase 10.48 percent year on year to about 9,902,753 units; commercial vehicle sales exceeded 2,395,840 units, a increase of 6.75 percent from a year earlier.

And:

According to statistics and analysis of China Association of Automobile Manufacturers (CAAM), the amount of China’s auto production was 1,583,333 units in July, decrease 5.43% compared with last month, and increase 10.18% compared with the same period of last year. Among main automobile categories, production of passenger cars was 1,298,798 units, decrease 4.68% compared with last month and up 9.62% year on year; the output of commercial vehicle was 284,535 units, decrease 8.68% compared with last month, and increase 12.78% compared with the same period of last year;

From January to July this year, China automobile production reached 10,968,706 units, increase 12.46% compared with the same period of last year; Production of passenger cars was 9,963,300 units, increase 9.62 percent year on year; the output of commercial vehicle was 2,371,708 units, increased 12.78% compared with the same period of last year.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.