Automobile industry posts positive growth for three months in a row
The total output value of the automobile manufacturing industry in Ningbo reaches 111.81 billion yuan ($16.2 billion) in the first half of this year. [Photo/WeChat account: nbfb0574]
The total output value of the automobile manufacturing industry in Ningbo reached 111.81 billion yuan ($16.2 billion) in the first half of this year, official data show.
The figure was slightly lower than the same period last year, but the decline has narrowed month by month. The sector's total output posted positive growth in the April-June quarter after bouncing back from its year-on-year contraction in the first quarter of the year.
The automobile sector has been Ningbo's largest industry since 2018.
In June, the city delivered 110,000 vehicles, representing a yearly uptick of 21 percent. Among them, the sales volume of Lynk & Co vehicles exceeded 13,000 units, up 53 percent year-on-year.
Geely Auto recently unveiled its business report for this year. Its sustained growth bucked the overall declining domestic trend. Geely's growth can be traced to the company's increased efforts in innovation and the strong support from the local authorities.
In February, the sudden outbreak of COVID-19 epidemic nearly forced Geely to suspend production, as its many parts suppliers were forced to shut down temporarily.
However, with the help of the local government, all 156 of Geely's supporting enterprises in Ningbo managed to resume work in just two days.
In the first half of this year, Geely Auto's vehicle production in Ningbo stood at 224,000 units, up 11.4 percent year on year and accounting for about 40 percent of its first-half total output, official statistics show.
In addition to Geely, Ningbo is now home to a number of automobile manufacturing enterprises such as SAIC Volkswagen, CRRC and BYD.
It is also home to more than 4,400 auto parts manufacturers, with products primarily including automotive powertrains, chassis, bodies and accessories and electrical instruments.