China – Aug Auto Sales
12/09/2019 10:11 am MYT
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Total vehicle sales in Aug rose 8.0%, month-on-month, but fell 6.9%, year-on-year, to 1.96 mln units – see table 1. Passenger car sales rose 7.9%, month-on-month, but fell 7.7%, year-on-year. Commercial vehicle sales also rose 8.6%, month-on-month, but fell 2.8%, year-on-year – see figure 1. Although auto sales continued to fall, the rate of decline has moderated. A new method to calculate the car purchase tax took effect in Jul, which could provide tax savings for car buyers. At the same time, many places have implemented the China VI Emission Standard in Jul. In addition, the State Council has issued a plan which contains 20 measures to boost consumption in late Aug. As a result, auto sales should improve in the coming months.

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Soon, we will enter the Year of the Rat. The Rat is the first of all the zodiac animals and represents the start of a 12-year cycle. According to Chinese myth, when the Jade Emperor organised a race to determine the order of the zodiac, the Ox ran the fastest, but the Rat tricked the Ox into giving him a ride. When they arrived at the finish line, the Rat jumped down from the back of the Ox and landed first. So, the Rat is associated with shrewdness and quick thinking. It also symbolises wealth because of their reproduction rate.

For Malaysians, who have been experiencing a fast deterioration in their well-being, we certainly hope that the Year of the Rat will bring a change of luck. Well, the fortune of Malaysia lies in the hands of all Malaysians. Life is what you make it. As the politicians are failing the people, Malaysians certainly need all the shrewdness of the Rat to fend for themselves.
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