Shanghai Securities News citing the China Association of Automobile Manufacturers said China recorded a 15%MoM increase in automobile production volume to 1.6 million units in September while automobile sales rose 19.19% to 1.646 million units.

Compared to the same period a year ago, automobile production and sales volumes were up 0.37 and 5.52% respectively. Passenger vehicle production and sales volumes increased 14.16% and 20.48%MoM and 3.52 and 8.79%YoY to 1.275 million units and 1.32 million units in September.

The volume of commercial vehicle production and sales increased 18.39 percent and 14.23%MoM to 327,000 units and 326,600 units in September. Compared with the same period a year ago the figures were down 10.29%YoY and 5.92%YoY.

An insider from CAAM said the negative figures for commercial vehicles were caused by the sluggish truck market. The automobile production and sales volumes were in line with market expectations with September being the traditional peak season for automobile sales.

According to the insider, the inventory of automobiles fell by 35,400 units MoM in September.

According to the CAAM automobile exports totaled 74,000 units in September and total exports in the first nine months increased 54.53%YoY.

China had recorded a 14.99%YoY increase in the output of large-scale industrial enterprises to USD 2.75 trillion during the first seven months.