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Market Chatter: China’s Auto Sector Logs 11% Jump in January-May Investment

MT Newswires ·  {{timeTz}}

12:12 AM EDT, 06/27/2022 (MT Newswires) -- Fixed-asset investments in China's auto sector rose 11.2% year over year in the first five months of the year, Xinhua News Agency reported Saturday, citing data from the China Association of Automobile Manufacturers.

The pace of increase was up 5 percentage points from China's overall fixed-asset investments during the same period.

China's fixed-asset investments expanded 6.2% year over year in the January-May period to 20.596 trillion yuan ($3.08 trillion), the National Bureau of Statistics said in an earlier disclosure.

China's auto-related retail sales jumped 24.1% in May from April to 318.6 billion yuan.

The country's biggest automakers include Dongfeng Motor Group (SHA:600006, HKG:0489), SAIC Motor (SHA:600104), Chongqing Changan Automobile (SHE:000625), BAIC Motor (HKG:1958), Guangzhou Automobile Group (SHA:601238, HKG:2238), Great Wall Motors (SHA:601633, HKG:2333) and FAW Group (SHE:000800).

The domestic new-energy vehicle market is dominated by BYD, (SHE:002594, HKG:1211), Tesla China, GAC Aion, and SAIC-GM-Wuling, a joint venture among SAIC, General Motors and Wuling Motors Holdings (HKG:0305).

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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