09 November 2012 09:04 [Source: ICIS news]
ryNGAPORE (ICIS)--China’s vehicle sales totalled 1.61m units in October, representing a 5.3% increase from the same period in 2011, but a 0.7% drop from September, official industry data showed on Friday.
The country’s vehicle production in October reached 1.59m units, up by 1.1% year on year, but down by 4.5% month on month, according to data from the China Association of Automobile Manufacturers (CAAM).
Compared with September, October passenger car sales and production were down 1.3% and 5.4%, respectively.
In the first 10 months of 2012, vehicles sales in China stood at 15.70m units, up by 3.6% from the same period in 2011, while production increased by 4.6% 15.72m units, the industry data showed.
Passenger car sales in the January-October period increased 6.9% year on year at 12.57m, while production was up 7.7% to 12.65m, according to CAAM.
Car production and sales data are indicators of base oil demand and plastic consumption in the manufacture of automotive parts.
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