Data by the Chinese Association of Automobile Manufacturers (CAAM) shows a wholesales market off -1.7% year-on-year in September to 2,809,000 units. This includes 2,525,000 Passenger Cars (+1.5%) and 284,000 Commercial Vehicles (-23.5%). Further stimulus enacted by the Chinese government relating to vehicle scrapping and trade-in have prevented the market from falling faster. The year-to-date tally is in positive at +2.4% to 21,571,000 including 18,679,000 PCs (+3%) and 2,892,000 CVs (-1.6%). Note production is down -1.9% in September to 2,796,000 and up 1.9% YTD to 21,470,000.
