Cui Dongshu: August auto industry value added up 8.7%, auto industry production performance very strong

Zhitong Finance APP has learned that Cui Dongshu, Secretary-General of the China Passenger Car Association, pointed out in an article that since the beginning of this year, policies and measures to expand domestic demand and promote consumption have continued to be implemented with results, the development quality of China's consumer market has continued to improve, and new consumption formats and models have shown vigorous vitality. Due to the sluggish low-end auto market, consumption is weak. From January to August, total retail sales of consumer goods reached 32,756.9 billion yuan, up 1.1% year on year. Among them, automobile consumption was 2,580.5 billion yuan, down 14% year on year; retail sales of consumer goods excluding automobiles were 30,176.4 billion yuan, up 2.7%. In August, total retail sales of consumer goods reached 3,982.4 billion yuan, up 0.4% year on year. Among them, automobile consumption was 327.9 billion yuan, down 19% year on year; retail sales of consumer goods excluding automobiles were 3,654.5 billion yuan, up 2.5%. From January to August, the sales area of newly built commercial housing was 498.8 million square meters, down 12.1% year on year; among which residential sales area fell 13.0%.