Motors Tracker

China’s automobile market continued to recover last month as the Covid-19 pandemic came under control and the economy revived, while the market share of luxury cars hit a new high of 14.9 percent. About 1.7 million passenger cars sold in China in June, continuing steady growth over four straight months, but still a 6.2 percent annual slump, mainly because many auto prices were discounted last year due to the shift from the fifth-phase national emission standards to the sixth,thus inducing a higher baseline for comparison. Retail sales of passenger cars nationwide totaled 7.7 million in the first half in a yearly drop of 23 percent stemming from the fallout of Covid-19 and China’s Lunar New Year holiday that proceeded its full onslaught, according to statistics the China Passenger Car Association released yesterday. Luxury car sales grew a yearly 27 percent in a 9 percent rise over May, with a record 14.9 percent market share, spurred by demand for high-end vehicles as a consequence of ...

Shares of major Chinese electric bike manufacturers surged after their executives said in a media interview that their sales have increased significantly this year, and partly because of the Covid-19 pandemic. Some of the rising stocks included Niu Technologies and Yadea Group Holdings, both gaining over 20 percent in a single day. Niu's stock price [NASDAQ: NIU] jumped to USD22.11 yesterday in New York. That of Yadea [HKG: 1585] edged up to HKD6.37 (US 82 cents) this afternoon in Hong Kong. From January to May, Yadea's sales climbed by more than 50 percent from a year ago, CCTV News reported yesterday, citing Senior Vice President Wang Jiazhong. Electric bicycle sales grew by more than 60 percent in the first half, said Wang Haiju, general manager of Aima Technology Group. China is the world's largest exporter of electric two-wheelers, making up more than 90 percent of the total. But the domestic market is also massive. As of June 2019, Chinese consumers had more than 250 ...