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19 domestic automakers poised for growth Jan-July

By Cai Muyuan (chinadaily.com.cn)
Updated: 2009-08-10 17:29

With strong car sales in July and the warmer auto market, China's 19 key automakers are expected to back into the black in the first seven months of the year, the China Association of Automobile Manufacturers (CAAM) said yesterday, according to Shanghai Securities News.

Statistics released by the CAAM showed China sold 1.09 million vehicles in July, up 63.57 percent year-on-year. Output hit more than 1.1 million units, up 52.15 percent from the previous year. Both the sales and output volume were beyond earlier anticipation.

Sales of commercial cars have been amounting in recent months in the wake of the rebounding passenger auto sales. The output of commercial cars jumped 38.74 percent from a year earlier to 259,300 units and sales were up 44.19 percent to 253,000 units in July.

Related readings:  China's auto sales reach 1.09 million in July  NDRC: China's auto prices see slight increase  Auto sales edge past 6m in H1  China surpasses US auto market in H1 sales

According to the CAAM, recovery of the commercial auto market was led by the domestic economic recovery. Statistics released by the Ministry of Transport echoed the idea. It showed China's port cargo throughout jumped 12.9 percent year-on-year in July, which largely raised the demand of commercial cars, such as semi-trailer towing vehicles.

"China can surely sell more than 11 million vehicles in 2009, if the auto market doesn't shrink in the second half year", said Dong Yang, secretary general of the CAAM. The figure was higher than the earlier prediction of 10.2 million vehicles.

Top management with many auto manufacturers, such as Haima Investment Group and Brilliance Auto, predicated better profitability in the second half year than the first half, if the auto market maintains strong demand.