China 2021-09-15T04:06:59+03:00
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China's auto makers log profit surge in H1

China's auto makers log profit surge in H1

China, vehicle, PRC, Manufacturing, automobile, CAAM
A worker checks a car at a factory of the First Automotive Works (FAW) Group Co., Ltd. in Changchun, capital of northeast China's Jilin Province. Photo by Xinhua/Zhang Nan.
A worker checks a car at a factory of the First Automotive Works (FAW) Group Co., Ltd. in Changchun, capital of northeast China's Jilin Province. Photo by Xinhua/Zhang Nan.

China's automobile manufacturing sector registered a stellar profit growth in the first half (H1) of 2021, according to the China Association of Automobile Manufacturers (CAAM), informed The Xinhua News Agency.

The vehicle makers raked in 287.68 billion yuan (about $44.54) in the period, up 45.2% year on year, the data showed.

The growth rate moderated from that recorded in the first five months, said the industry association.

Earlier data from the CAAM showed China's auto sales rose 25.6 percent year on year to over 12.89 million units in the first half of 2021.

In June, auto sales totaled about 2.02 million units, down 12.4% year on year, while auto production went down 16.5% compared with a year ago to 1.94 million, the data showed.

"The production and sales of passenger vehicles showed an "obvious decline" in June", – said CAAM, as they were affected by an insufficient supply of chips.

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