According to the statement made by the Chinese Automobile Manufacturers Association (CAAM); Auto sales in the country reached 2021 million units in the first nine months of 8.7, up 18.62 percent year on year. According to the data, automobile production rose 7.5 percent year on year to 18.24 million units in the last three quarters. In the January-September period, passenger vehicle sales reached 11 million units, with an annual increase of 14.86 percent.
The association said that China's industrial enterprises continue to recover with stable economic development, but the auto industry continues to face the pressure of chip supply shortages, high logistics costs and other factors. Therefore, in September, automobile sales totaled approximately 19,6 million units, down 2,07 percent year on year.
According to CAAM data, especially last month, renewable energy vehicle production and sales reached 353 thousand and 357 thousand units, respectively, and both recorded 150 percent annual growth. In the January-September period, the sales of vehicles in this group reached approximately 190 million units with an annual increase of 2.16 percent.
The country's automobile exports increased by 120 percent in the first nine months compared to the previous year and reached 1,36 million units. CAAM said China's auto demand is expected to remain stable in the last quarter as the country's economic development continues to consolidate its development momentum.
Source: China International Radio