China’s automobile production fell by 16.5pc to 1.94mn units from prior-year period, and by 4.8pc from May, according to data released by China Association of Automobile Manufacturers (CAAM).
Sales dipped by 5.3pc in June as compared to May and by 12.4pc to 2.01mn units as compared to June last year.
In the first half of this year, China, the world’s largest car market, produced 12.56mn vehicles, an increase of 24.2pc compared to last year and sales were reported at 12.89mn. As a result, CAAM has upgraded China’s auto sales by 6.7pc to 27mn units in 2021.
The association states that production and sales of commercial vehicles have taken a sharp hit in June compared to the prior year. CAAM also reiterates the negative impacts of the global shortage of semiconductors and the elevated price of raw materials on China’s auto production.