In July 2010, vehicle sales increased by 14.4% year-on-year and 11.9% month-on-month. It is expected that auto sales will continue to decline slightly in August. In July, the auto sales reached 1.244 million, up 14.4% year-on-year, and the seasonally decelerated chain ratio, mainly due to the high base rate of some companies under the off-season and the high base of distributors' impulse at the end of June. From January to July, the cumulative sales volume of automobiles was 10.26 million units, a year-on-year increase of 42.7%. However, the growth rate showed a continuous decline, and the industry's prosperity level showed a decline compared with the same period of last year. In August, some companies will be exposed to high temperature and dealership inventory is currently in the medium-to-high-end level under normal conditions. Dealer impulse momentum is not strong. It is expected that auto sales will continue to decline slightly in August, showing the normal seasonal trend in previous years.
According to statistics from China National Automobile Research Institute, the total inventory of automobile companies and circulation links is currently 1.46 million, of which passenger cars and commercial vehicles are 970,000 and 490,000 respectively. Inventory has increased compared with the previous three months, including self-owned brand cars. The pressure on the company's inventory is even greater, and there are structural pressures in the industry.
Heavy trucks in July showed a normal seasonal trend, which fell 25% month-on-month. In July, heavy truck sales were 70,188 units, which represented a year-on-year growth rate of 30.7% and a decrease of 25.2% compared with the previous period, reflecting the fact that heavy truck sales gradually returned to normal after selling in the first half of the year. Seasonal factors gradually reflected the impact. From January to July, 654,204 heavy trucks were sold, a year-on-year increase of 99.8%. Looking back, the demand trend will return to normal. The heavy truck sales in August and December are expected to remain at the level of 50-70,000 vehicles. The annual heavy truck sales volume will increase by 46% to 930,000 units, of which the sales volume will be 346,000 units in the second half of the year. The annual proportion is about 36%.
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