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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The haze is back. According to the Department of Environment’s Air Pollutant Index (API), the API readings have reached unhealthy levels in many parts of Malaysia; some have even reached “very unhealthy” levels. This health hazard has plagued Malaysia, Indonesia, and Singapore for decades. Although forest fires caused by extreme dry weather play a part in the problem, the habit of Indonesian farmers using fire to clear land has been the main culprit. While the Amazon rainforest fires have caught global attention and the Brazilian government was under heavy criticism from the global community, the Indonesian government has received much kinder treatments from her neighbours and indiffercne from the global community. Apart from apologising, the Indonesian government really needs to put a stop to this perennial health and safety hazards that have been affecting millions of people.

Meanwhile, shareowners of icapital.biz Bhd are reminded to attend the 15th AGM on 21 Sep at the Sime Darby Convention Centre, Kuala Lumpur.
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