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China's automakers log profit surge in H1

Updated: Jul 31,2021 11:13    Xinhua

BEIJING — China's automobile manufacturing sector registered a stellar profit growth in the first half (H1) of 2021, according to the China Association of Automobile Manufacturers (CAAM).

The vehicle makers raked in 287.68 billion yuan (about $44.54 billion) in the period, up 45.2 percent year-on-year, the data showed.

The growth rate moderated from that recorded in the first five months, said the industry association.

Earlier data from the CAAM showed China's auto sales rose 25.6 percent year-on-year to over 12.89 million units in the first half of 2021.

In June, auto sales totaled about 2.02 million units, down 12.4 percent year-on-year, while auto production went down 16.5 percent compared with a year ago to 1.94 million, the data showed.

The production and sales of passenger vehicles showed an "obvious decline" in June, said CAAM, as they were affected by an insufficient supply of chips.

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