Passenger car sales in China maintained their strength in September, driven by strong demand for clean vehicles despite a sluggish economic environment, a professional federation announced on Tuesday.
A total of 1.92 million units were sold in September, an increase of 21.5% year on year, said the China Federation of Individual Car Manufacturers (CPCA).
Sales of hybrid and electric vehicles for their part almost doubled over one year on the world’s leading automotive market (+94.9%). On this niche, Chinese BYD was ahead of American Tesla in terms of sales, according to the CPCA.
As for purchases of luxury cars, they jumped in September by 45% over one year, according to this federation.
Automobile sales in China had experienced a sharp contraction in May (-17% over one year) but especially in April (-40.4%), the largest since 2020.
To support the sector amid an economic slowdown and sluggish consumption in the country, the government issued a series of measures in July to boost sales.
The sector is benefiting from this, in particular from the extension of the tax relief for the purchase of electric vehicles, which was due to end this year.
In August, sales of so-called clean energy vehicles had already doubled over one year in China.
The electric car market is particularly competitive in the country.
The there are many builders and compete to take advantage of this outlet, carried in recent months by generous subsidies for the purchase of municipalities or local governments.
These measures are supposed to support the economy, at a time when anti-Covid restrictions weigh heavily on the activity of the Asian giant.
China is due to release its growth figures for the third quarter later this month, as well as various economic indicators.
In the second quarter, China’s GDP growth reached only +0.4%, its worst performance since 2020.
A total of 1.92 million units were sold in September, up 21.5 percent year-on-year, the China Federation of Individual Car Manufacturers (CPCA) said. their share almost doubled over one year on the world’s leading automobile market (+94.9%). In this niche, the Chinese BYD was ahead of the American Tesla in terms of sales, according to the CPCA. As for purchases of luxury cars, they jumped in September by 45% over one year, according to this federation. automobiles in China had experienced a sharp contraction in May (-17% year-on-year) but especially in April (-40.4%), the largest since 2020. To support the sector against a backdrop of economic slowdown and sluggish consumption in country, the government released a series of measures in July to boost sales. , sales of so-called clean energy vehicles had already doubled in one year in China. The electric car market is particularly competitive in the country. Builders are numerous there and are vying to take advantage of this outlet, driven in recent months by generous subsidies for the purchase of municipalities or local governments. These measures are supposed to support the economy, at a time when anti-Covid restrictions weigh heavily on the Asian giant’s activity. China is due to release its growth figures for the third quarter later this month, as well as various economic indicators. In the second quarter, China’s GDP growth only reached + 0.4%, its worst performance since 2020.
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