China’s production and sales of motorcycles increased 2.83% MoM & 8.09% YoY in June 2019
According to the latest data from the China Association of Automobile Manufacturers (CAAM), production and sales of motorcycles in June improved across China both year-on-year, as well as month-on-month basis.
Domestic production of motorcycles in the above mentioned month came in at 1.48 million units, up 2.83 per cent from May 2019 and 8.09 per cent from June 2018. In May 2019, the production had dropped month-on-month by 0.64 per cent.
Sales climbed 4.34 per cent month-on-month in June and 6.74 per cent on the year to stand at 1.47 million units. In May 2019, sales were down by 1.32 per cent from the previous month.
With this, the total production and sales of motorcycles in the first half of 2019 in China totalled 7.81 million units and 7.77 million units, respectively.
Chinese consumers who are purchasing electric motorcycles and light electric motorcycles are exempted from purchase taxes since July 1.
The exemption of purchase tax reduces the buying cost for consumers by hundreds of yuan. This in turn, is expected to spur motorcycle sales across the market and therefore the production and also the demand for downstream aluminium. Also, the increase in electric motorcycles production is expected to enhance of generation of secondary aluminium domestically.
This comes as a boost to market sentiment after the new national standards for electric motorcycles took effect earlier this year.
source: Alcircle
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
