Galaxy Securities says August saw a post-season production and consumption rebound: China domestic passenger-car sales rose MoM, exports stabilised at high levels and YoY growth remained strong. New energy vehicles (NEVs) continued to underpin export growth; commercial-vehicle domestic demand was steady, NEV penetration climbed to near 50%, and strong truck export growth kept commercial-vehicle exports buoyant. Looking ahead, the market is entering a seasonal consumption peak around "Golden Sept

Galaxy Securities says August saw a post-season production and consumption rebound: China domestic passenger-car sales rose MoM, exports stabilised at high levels and YoY growth remained strong. New energy vehicles (NEVs) continued to underpin export growth; commercial-vehicle domestic demand was steady, NEV penetration climbed to near 50%, and strong truck export growth kept commercial-vehicle exports buoyant. Looking ahead, the market is entering a seasonal consumption peak around "Golden September, Silver October" into year-end; NEVs are expected to remain the main driver of domestic recovery and elevated export growth, with vehicle sales likely to increase MoM and support industry operating improvement in September and Q4.