Why China’s September car sales jumped

Due to the steep decline in first-quarter volume amid the virus outbreak, demand for new light-vehicles in the first nine months dropped 12 percent to below 13.4 million.

But new commercial-vehicle deliveries advanced 20 percent to top 3.7 million in the first three quarters.

Overall, across the industry, new-vehicle sales in September rose 17 percent to approach 2.6 million, with year-to-date volume declining 6.9 percent to some 17.1 million.

The Beijing auto show, promotional events and policies enacted by local governments to support the auto industry drove sales growth in September, senior CAAM official Chen Shihua told reporters.

Passenger vehicle sales rose 8 percent in September. Geely Automobile Holdings, Great Wall Motor Co. and Toyota Motor Corp. were among those that booked double-digit growth.

This time of year is also known as “Golden September, Silver October” and is usually a highpoint in sales across the industry, with consumers venturing out

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China auto sales jump in ‘Golden September’ as shoppers return to showrooms

BEIJING/SHANGHAI (Reuters) – China auto sales marked a sixth straight month of gain, rebounding a solid 12.8% in September as the world’s biggest vehicle market comes off lows hit during the coronavirus lockdown.

This time of year, known as “Golden September, Silver October”, is usually a highpoint in sales for the industry, with consumers venturing out to make purchases after having stayed away from showrooms during the stifling summer months.

Sales reached 2.57 million vehicles last month but were still down 6.9% for the year to date at 17.12 million vehicles, according to the China Association of Automobile Manufacturers (CAAM).

“Based on our dealer channel checks, the growth in momentum extended into the October Golden Week, as retail sales exceeded dealers’ expectations,” said Haitong International analyst Shi Ji.

The Beijing auto show, promotional events and policies enacted by local governments to support the auto sector helped sales growth in September,

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BCA used car values rise 6.9% as volumes rise in strong September

BCA’s average used car sale value at auction remained above £8,000 for a fourth consecutive month after values rose by 6.9% during strong September trading.

The remarketing giant recorded average used car values of £8,363 last month, with online sold volumes rising 31% during September to reach record levels as conversion rates typically exceeded 85%.

BCA average used car sales values, 2020It was the fifth consecutive month that BCA had sold record numbers of vehicles online, with daily online weekday sales averaging over 6,000 units.  

BCA’s chief operating officer for UK Remarketing, Stuart Pearson, said: “The used car market saw buying activity and demand increase in September with BCA selling record volumes online for the fifth month running. 

Stuart Pearson COO BCA remarketing “We also saw record numbers of customers purchasing online in September, with numbers of customers for both online auctions and fixed price purchase continuing to rise.” 

Despite reports of supply shortages driving high used car values, Pearson claimed

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China Auto Sales Jump 13% in ‘Golden September’ as Shoppers Return to Showrooms | Investing News

By Yilei Sun and Brenda Goh

BEIJING (Reuters) – Automobile sales in China rose 12.8% in September from the same month a year earlier, marking the sixth consecutive month of gain, as the world’s biggest vehicle market comes off lows hit during the coronavirus lockdown.

Sales reached 2.57 million vehicles last month, showed data from the China Association of Automobile Manufacturers (CAAM).

Sales are still down 6.9% for the first nine months of the year at 17.12 million vehicles, CAAM said.

Auto insiders refer to “Golden September, Silver October” as they regard the months as the high season for China sales, with drivers venturing out to make purchases having stayed away during the stifling summer months.

Reflecting that trend, sales of passenger vehicles rose 8% in September. Geely Automobile Holdings Ltd <0175.HK>, Great Wall Motor Co Ltd <601633.SS> and Toyota Motor Corp <7203.T> booked double-digit growth.

The Beijing auto show,

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China auto sales jump 13% in ‘Golden September’ as shoppers return to showrooms

By Yilei Sun and Brenda Goh

BEIJING, Oct 13 (Reuters)Automobile sales in China rose 12.8% in September from the same month a year earlier, marking the sixth consecutive month of gain, as the world’s biggest vehicle market comes off lows hit during the coronavirus lockdown.

Sales reached 2.57 million vehicles last month, showed data from the China Association of Automobile Manufacturers (CAAM).

Sales are still down 6.9% for the first nine months of the year at 17.12 million vehicles, CAAM said.

Auto insiders refer to “Golden September, Silver October” as they regard the months as the high season for China sales, with drivers venturing out to make purchases having stayed away during the stifling summer months.

Reflecting that trend, sales of passenger vehicles rose 8% in September. Geely Automobile Holdings Ltd 0175.HK, Great Wall Motor Co Ltd 601633.SS and Toyota Motor Corp 7203.T booked double-digit growth.

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Indian automobile retail sales rise in September, Passenger Vehicles segment back in green

India’s automobile retail sales rose in September on a sequential basis, industry data showed on Thursday.

However, sales remained in the red on a year-on-year basis.

The Federation of Automobile Dealers Associations data showed that vehicle registration in September rose to 13,44,866 units from 11,88,087 units sold in August and a retail off-take of 11,42,633 units in July.

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Nevertheless, on a YoY basis, September retail sales declined by 10.24 per cent to 13,44,866 units from 14,98,283 units off-take during the like month of last year.

Commenting on September’20 performance, FADA President Vinkesh Gulati in a statement said: “With the government’s persistent effort to unlock India, the month of September continued to witness automobile registrations on a rise as compared to previous months.

“Passenger Vehicles for the first time saw positive growth coming back on YoY basis. With social distancing on customer’s mind coupled with the government’s push to further

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Wholesale Prices Cool in September After Three Months of Record Highs

ATLANTA, Oct. 7, 2020 /PRNewswire/ — Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.58% month over month in September, the first month-over-month drop in wholesale values since May. The Manheim Used Vehicle Value Index for September was 161.2, a 15.2% increase from a year ago.

Manheim Market Report (MMR) prices declined at an accelerating pace over the four full weeks of September, resulting in a 2.9% cumulative decline on the Three-Year-Old Index. In the last full week of September, the Three-Year-Old Index declined 0.9%, which was the biggest weekly decline in 22 weeks. MMR Retention, which is the average difference in price relative to current MMR, averaged 99.5% for the four full weeks of September. The sales conversion rate averaged 58.8% over the same period, which was a decline from August and much more typical for this time of the year.

On a year-over-year

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Northern Ohio auto sales rise sharply in September

Sales of new vehicles in Northern Ohio had a strong bounce-back in September after a weak August.

The Greater Cleveland Automobile Dealers’ Association reported that franchised new vehicle dealers in 21 counties sold 23,445 new vehicles in September, up about 7.6% from sales of 21,799 in the like month a year ago. It represented a rebound from August, when sales were down nearly 8% from August 2019.

For all of this pandemic-dominated year, sales, not surprisingly, are down. The association reports that dealers through September have sold 175,252 new vehicles, down about 7.5% from the January-to-September period of 2019.

Louis A. Vitantonio, the association’s president, said dealers in September “continue to show resilience, and consumers in Northern Ohio have stepped up once again to support the industry.” He said dealers continue to benefit from improving inventory levels and low interest rates.

Chevrolet sold a total of 3,545 new vehicles last

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Why Electric Car Stock DiamondPeak Holdings Skyrocketed More Than 50% in September

What happened

Shares of DiamondPeak Holdings (NASDAQ:DPHC) soared by 53.5% in September, according to data provided by S&P Global Market Intelligence.

The special purpose acquisition corporation (SPAC) is slated to take electric truckmaker Lordstown Motors public before the end of the year. Extreme interest in it and other electric vehicle companies sent DiamondPeak’s shares on a roller-coaster ride throughout the month. 

A rocket blasts off above the clouds.

Image source: Getty Images.

So what

A number of electric vehicle companies have recently been choosing to forgo the traditional IPO process and instead go public through reverse mergers with SPACs like DiamondPeak — among them, Nikola (NASDAQ:NKLA), which, like Lordstown Motors, plans to manufacture an electric pickup truck, the Badger. Lordstown announced in early August that it had entered into a definitive agreement to go public through a merger with DiamondPeak. Shares promptly took off, rising 63.9% that month alone. 

That buying frenzy continued in September, particularly

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September wholesales a cause for optimism



a car parked in front of a building: The sharp recovery in wholesales in recent months has also set the stage for a turnaround in performance for auto companies in Q2.


© Provided by The Financial Express
The sharp recovery in wholesales in recent months has also set the stage for a turnaround in performance for auto companies in Q2.

Indian auto industry witnessed strong pick-up in wholesale volumes in September led by gradually improving retail demand and inventory build-up ahead of the upcoming festive season. Based on OEM volumes, we estimate PVs grew 28-30% y-o-y, 2Ws rose 11-13%, tractors were up 15-17% while M&HCVs declined just 16-20% y-o-y. The sharp recovery in wholesales in recent months has also set the stage for a turnaround in performance for auto companies in Q2.

The strong y-o-y numbers were also boosted by a low base. Among covered OEMs, Sept wholesales were up 31% y-o-y for MSIL, 10-17% for HMCL/BJAUT, 1-4% for TVSL/EIM (Royal Enfield), but fell 1-5% y-o-y for MM/AL.



chart, waterfall chart


© Provided by The Financial Express


We estimate PV industry wholesales rose 28-30%

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