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Auto sales in China soar during August

World Flag Button Series - Asia - China(With Clipping Path)

Automobile deliveries in China increased 26% Y/Y to 1.8M units in August, according to the China Passenger Car Association. The rate of sales growth matched the pace from July.

SUV and crossover sales rose 44% to over 654K during the month. Sales of vehicles with engine sizes below 1.6 liters increased 41%. GM, Ford, and Nissan all reported deliveries growth of over 17% for the period. EV sales in China have doubled this year and are on a pace to top 400K for the year.

Demand in China remains strong in front of the expiration of a tax break at the end of the year.

Automobile sales are up 13% YTD through the end of August.