China auto market shows signs of recovery in August

China’s auto market shows signs of recovery in August and is expected to post further growth in September, according to a report published by China Automobile Dealers Association today.

China Automobile Dealers Association said consumers’ demand has a moderate increase in August compared with July due to more promotions and rising demand stimulated by auto show held in some regions, such as the Chengdu Motor Show, which was held from August 25 to September 3.

About 25.4 percent of car dealers said the number of car buyers rose in August, up 3.6 percent compared with July, according to the data from the association. 

Up to 38.6 percent of the dealers said their selling price of cars fell last month, followed by 53.6 percent of the dealers said the price remained the same and 7.9 percent of the dealers voted for price increase.

The association said that China's auto market is expected to enter into a golden sales season in September. Dealers’ operating conditions will further improve and market demand is expected to rise this month.

Nearly half of the car dealers hold an optimistic view on the market performance this month. Up to 45.5 percent of the car dealers said the market demand will grow this month, jumped 25.6 percentage points compared with last month.

In terms of operating conditions, about 28.1 percent of the dealers said operating conditions are going to improve this month, up from 16.7 percent in July. About 63.3 percent of the dealers said remaining the same and only 8.6 percent of the dealers said conditions will be worse compared with last month.

The association's report covered most car dealers from the top 100 auto dealership groups in China.