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China auto sales track higher than expectations

Published 07/11/2017, 09:10 AM
© Reuters.  China auto sales track higher than expectations
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  • Automobile sales in China rose 2.3% in June to 1.83M to break a two-month streak of declining growth. YTD sales through the end of June were up 1.6% to 11.25M, a pace ahead of expectations given last year's 16% jump in sales.
  • Total vehicle sales in China, which include commerical purchases, rose 3.8% to 13.35M vehicles in the first half of the year.
  • Japanese automakers (TM, OTCPK:NSANY, HMC) are taking significant market share in China this year, while GM (NYSE:GM), Ford (NYSE:F) and Hyundai (OTC:HYMLF) have lost ground.
  • What to watch: Automobile demand in China will be heavily influenced in the back half of the year by Beijing's decision on whether a planned tax increase goes forward.
  • Related stocks: OTC:CQCAF, OTCPK:GWLLF, OTCPK:GWLLY, OTCPK:GELYF, OTCPK:GELYY, OTCPK:BYDDY, OTCPK:BYDDF, OTCPK:DNFGY, OTCPK:DNFGF, OTCPK:DDAIF, OTCPK:VLKAY, OTCPK:BMWYY, GM, OTC:GNZUF, OTC:GNZUY, TSLA, OTCPK:VLKAY.


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