China’s automobile sales rise 11.6% y-o-y in Aug’20 – CAAM

Automobile sales in China have registered 11.6% y-o-y increase to 2,186,000 units in Aug’20, the data by China Association of Automobile Manufacturers (CAAM) shows. Sales increased by 3.5% on a m-o-m basis. Favorable policy support from the government and recovering demand are likely to boost China’s automobile sales in the second half of CY’20, CAAM expects.