China’s auto sales increased 8.7 percent year on year to 18.62 million units during the first nine months of this year, data from the China Association of Automobile Manufacturers (CAAM) showed Tuesday.
Auto production increased 7.5 percent year on year to 18.24 million units during the last three quarters.
Sales of passenger vehicles boosted 11 percent year on year to 14.86 million units in the January-September period.
China’s industrial enterprises have shown recovery with stable economic development, but the auto industry continued to face difficulties due to a chip supply shortage, high logistics costs, and other factors, the CAAM said.
In September alone, auto sales amounted to 2.07 million units, declining 19.6 percent year on year.
NEV production and sales in September reached 353,000 and 357,000 units, respectively, both logging a year-on-year increase of 150 percent, the CAAM data showed.
In the January-September period, NEV sales totaled about 2.16 million units, increasing 190 percent year on year.
The country’s auto exports boosted 120 percent from the past year to 1.36 million units in the first nine months.
For the last quarter, the auto demand in China is expected to remain stable as the economic development in the country continues to consolidate its development momentum, the CAAM added.
