CHINA AUTO: Vehicle output growth bolsters raw material prices in November

Chinese automotive production rose by 9.6% year on year in November, supporting prices of upstream materials such as steel and aluminium.

Carmakers in the country produced 2.85 million units in November, up by 9.6% from a year ago and up by 11.5% from the month prior, China Association of Automobile Manufacturers said (CAAM) on Friday December 11.
Auto sales totaled 2.77 million units, up by 12.6% year on year and up by 7.6% month on month.
As of November, China’s auto output and sales have gained for eight straight months, out of which seven months posted annual growth rates above 10%, CAAM said.
Between January and November, Chinese auto output totaled 22.37 million units, down 3% from a year ago, compared with a 4.6% drop in the first 10 months of 2020.

In the same period, China’s auto sales was 22.47 million units, down 2.9% year on year, which was 1.8 percentage points smaller than the loss in the first 10 months....

Published

Susan Zou

Hui Li

Carrie Shi

Miranda Song

Sally Zhang

December 14, 2020

12:04 GMT

Shanghai, Beijing