China's Automobile Production and Sales in February Remain Strong-Shanghai Metals Market

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China's Automobile Production and Sales in February Remain Strong

SMM Insight 11:18:17AM Mar 12, 2010 Source:SMM

SHANGHAI, Mar. 12 (SMM) -- According to data from China Association of Automobile Manufacturers (CAAM), China's automobile production and sales in February remained strong, continuing to grow rapidly from a year ago, though the two data fell on a monthly basis following fewer working days in the month for Chinese New Year holiday. From January to February, China's automobile sales exceeded 2.8 million mt, and a year-on-year growth of production and sales of both passenger and commercial vehicles was above 70%.

In February, China's automobile production was 1.206 million vehicles, down 25.30% MoM, but up 49.13% YoY; automobile sales were 1.212 million vehicles, down 27.20% MoM, but up 46.25% YoY.

In 2010, Chinese Central Government will continue to implement incentive policies to stimulate domestic automobile production and sales. In this context, China's automobile industry will keep its positive growth trend, with steady production and sales expected. Hence, SMM believes that lead-acid batteries used for automobiles will remain a major driving force for lead consumption in China in 2010.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

China's Automobile Production and Sales in February Remain Strong

SMM Insight 11:18:17AM Mar 12, 2010 Source:SMM

SHANGHAI, Mar. 12 (SMM) -- According to data from China Association of Automobile Manufacturers (CAAM), China's automobile production and sales in February remained strong, continuing to grow rapidly from a year ago, though the two data fell on a monthly basis following fewer working days in the month for Chinese New Year holiday. From January to February, China's automobile sales exceeded 2.8 million mt, and a year-on-year growth of production and sales of both passenger and commercial vehicles was above 70%.

In February, China's automobile production was 1.206 million vehicles, down 25.30% MoM, but up 49.13% YoY; automobile sales were 1.212 million vehicles, down 27.20% MoM, but up 46.25% YoY.

In 2010, Chinese Central Government will continue to implement incentive policies to stimulate domestic automobile production and sales. In this context, China's automobile industry will keep its positive growth trend, with steady production and sales expected. Hence, SMM believes that lead-acid batteries used for automobiles will remain a major driving force for lead consumption in China in 2010.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn