Chinese auto production still seeing y-o-y growth

摘要

According to the data from China Passenger Car Association (CPCA), the sales of passenger cars reached1.85 million units in March, slightly up by 0.43% y-o-y. In Q1 as a whole the sales of passenger cars declineddue mainly to the higher purchasing tax rate, while the production of passenger cars increased over thesame time period. Sales decreased from 5.45 million units in Q1 2016 to 5.38 million in Q1 2017, down by1.36%, whilst production increased from 5.48 million units in Q1 2016 to 5.93 million units in Q1 2017, up by8.27%. The increase in auto production supports consumption for aluminium-made auto parts and fin stock.