CHINA Automobile Association: The Signs of Recovery in the Auto Manufacturing Industry from January to July Are Becoming More Obvious

Data released by the China Association of Automobile Manufacturers show that from January to July 2020, the year-on-year decline in profits in the auto industry narrowed sharply compared with the first half of the year, with signs of a pick-up in the industry becoming more pronounced. From January to July, the auto manufacturing industry achieved a cumulative profit of 251.45 billion yuan, down 5.9% YoY, a decrease of 14.8 percentage points from January-June and 17.3 percentage points from the same period last year, accounting for 8.1% of the total realized profits of industrial enterprises above the scale, 0.5 percentage points higher than in January-June, roughly the same as in the same period.