China Auto Sales Fell 5.1% in August as New-Energy Vehicle Exports Jumped

China's auto industry association said on September 10 that August vehicle production and sales fell 4.7% and 5.1% year on year to 2.684 million and 2.712 million units, respectively, according to Jiemian News. New-energy vehicle production and sales rose 18.9% and 17.8% to 1.653 million and 1.643 million units, with NEV sales accounting for 60.6% of total new-car sales, the second straight month above 60% and a new monthly high. From January to August, NEV sales reached 10.65 million units, up 10.7% from a year earlier, and accounted for 52.4% of total new-car sales. Exports were the main growth driver: August vehicle exports rose 65.3% to 1.01 million units, the third consecutive month above 1 million, while NEV exports climbed 1.3 times to 526,000 units. Vehicle exports in the first eight months rose 66.7% to 7.153 million units. The association said domestic demand remained under pressure, with monthly sales declines exceeding 20% for five straight months, while faster export growth reflected the overall improvement in China's auto industry and strong overseas demand for China's new-energy vehicles amid relatively high oil prices abroad.