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China wholesales June 2020: CAAM expects market up 11%

China wholesales December 2019 – June 2020. Source CAAM via China Automotive Review.

The China Association of Automobile Manufacturers (CAAM) expects Chinese wholesales to post a second consecutive double-digit year-on-year gain in June at +11% to roughly 2.28 million units after surging 14.5% in May. As a reminder May ended 21 consecutive months of year-on-year decline for Chinese wholesales. H1 volumes are now expected to drop -17% to 10.24 million units and the FY2020 decline now looks like it could be in the single-digits after all, which is something we at BSCB have been predicting all throughout the pandemic. According to local outlet China Automotive Review, heavy-duty truck sales continue to soar in June at +59% year-on-year, following a +66% surge in May and +61% in April, partly thanks to government aids helping the upgrade towards higher emissions standards-compliant trucks. Heavy-duty truck sales hit an all-time record 535.000 units in Q2 and 810.000 over H1, also a record.

Previous month: China wholesales May 2020: Sales spectacularly bounces back up 14.5% to largest YoY gain in over 3 years

One year ago: China wholesales June 2019: GAC, Audi, Honda can’t help 12th straight market decline (-9.6%) but SUVs up (+0.3%)

This Post Has 5 Comments
    1. Hey – The Hilux is not sold in China. The pickup market is extremely competitive in China with dozens of local manufacturers. Importing the Hilux would make it even more expensive and sales prospects would be limited. However there is a fascination from some wealthy Chinese countryside buyers with US pickup trucks and the Ford F-150 and Toyota Tundra can be seen there. They are parallel imported – therefore not officially – with a huge markup. Very small numbers through, probably less than 1.000 a year.

      1. Imagine 1.000 F-150’s per year via 4 ‘grey’ importers. Say the markup is $10.000 per truck = $2,5 mio per shop. That’s a cool profit. Now imagine there’s just one importer!

      2. I would say 1000 total US pickups imported per year but the markup would be a lot more, prob $20-30.000 per truck.

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