China’s vehicle market and output both hit record highs in November according to data released by the China Association of Automobile Manufacturers (CAAM).
Vehicle sales reached 2.04m in the month, 14.1% ahead of last year. Output was up 21.2% to 2.13m.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Sales and output of passenger vehicles in China rose 5.75% and 11.39% respectively in November.
During the period of January-November this year, vehicle sales in China rose 13.53% to 19.86m units while total output went up 14.34% to 19.99m units.
Sales and output for the first 11 months have both surpassed the total units for the full year of 2012, the statement said.
A number of manufacturers, including Ford and General Motors, reported strong sales in November and CAAM also noted that the Japanese makers’ share of the car market continued to recover.
LMC Automotive said last week that it has raised its 2013 Light Vehicle sales forecast by nearly 260,000 units. LMC expects China’s Passenger Vehicle sales to grow by 15.9% annually to 16.5m units, while Light Commercial Vehicle sales were revised down slightly to 5.1m units, but up by 2.3% from the year 2012.
