Shanghai (ZXZC)- Chongqing Changan Automobile Co., Ltd (Changan Automobile) said its new vehicle sales in December 2019 soared 31% over a year ago to 193,716 units, maintaining the growth from November.

Thanks to the vigorous increase in the year-end spurt, the decrease in Changan's year-to-date sales was shrunk to 15.2%, versus the year's highest level of 35.2% which took place in February.

Apart from Hebei Changan, the other subsidiaries all posted year-on-year increase in Dec. sales. Hefei Changan boasted a colossal growth of up to 973.9%, and had gained sales surge for the fourth month in a row.

I would be remiss not to mention Changan Ford's sales growth in December—0.7%, tiny but considerably significant as this was the first-time year-over-year increase the joint venture made for the past two years. It seems that the cooperation between Ford and Changan Automobile deepened for the sake of Changan Ford did generate some positive effects.

Changan Mazda saw its Dec. sales climb 9.2% to 12,598 units. The Sino-Japanese joint venture was mired in downturn for nine months of 2019, thus its full-year sales still represented a double-digit drop.

（Photo source: DS)

On the other hand, subsidiaries displayed a sweeping decrease in terms of year-to-date sales. Hefei Changan was the only one that obtained growth.

The automaker is improving its capital structure by scrapping non-performing assets. In December, Changan Automobile said it had agreed to sell 50% stake in a joint venture with Groupe PSA to a subsidiary of Baoneng Automobile Co.,Ltd at a value of RMB1.63 billion. The eight-year-old joint venture, Changan PSA Automobiles Co., Ltd. (CAPSA), has been vexed by continuous loss and flagging sales. According to the Changan's statement, CAPSA posted a net loss of RMB874.09 million in 2018, while the loss reached up to RMB2.23 billion after only nine months through September, 2019.