Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Auto sales in major Asian countries like Japan, India, Vietnam and Indonesia reported a de-growth owing to COVID-19 restrictions and demand uncertainties. In contrast, China reported a growth in its auto sales. 


In Japan new auto sales fell by 23pc in June to 347,371 units from the prior year, according to data released by Japan Automobile Dealers Association. COVID-19 has caused serious damage to the country’s auto sector as it is an export-reliant country. 


Indian auto sales fell by 34pc in June to a total of 1.08mn units from 16.40mn total units produced in the year prior. The body of Indian automobile companies believes that auto sector recovery will take more than 4 years to reach 2018 levels.


Vietnam posted a decline of 13pc in new car sales at 24,002 units in June compared to the same month last year, according to data released by Vietnam Automotive Manufacturers Association (VAMA). In comparison to May, however, sales volume is up 26pc. Car sales in Indonesia slipped by 78.8pc in June compared to 2019 at 12,623 units sold. 


Meanwhile, China’s total vehicle sales including truck and busses rose 11.6pc in June to 2.3mn units from the prior year. Passenger car sales also rose by 1.8pc in June at 1.76mn units from the prior year, according to China Association of Automobile Manufacturers. The industry body also said that overseas demand for Chinese auto exports has not recovered fully owing to economic disruptions caused by the pandemic.

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