Beijing. Data released by the Chinese Automobile Industry Association showed that from January to October, China’s vehicle production and sales reached 24.016 million and 23.967 million respectively, compared with the same period last year. There was an increase of 8 percent and 9.1 percent.
The growth in production and sales of vehicles in the country has continued. According to data provided by the Chinese Vehicle Industry Association, China’s new energy vehicle production and sales from January to October reached 73.52 million and 72.80 thousand, respectively, a year-on-year increase of 33.9 percent and Is 37.8 percent. This is 30.4 percent of the market share.
Additionally, exports of new energy vehicles witnessed a significant growth of 99.1 per cent, totaling 9.95 lakh. Chen Shihua, deputy secretary of the Chinese Automobile Industry Association, mentioned that various auto shows and promotional activities are currently taking place in many places. Major car companies are constantly launching new models, resulting in a significant increase in the number of customers at the stores.
With the implementation of policies to stabilize economic growth and the continuation of local car purchase subsidies and promotional activities, it is expected that vehicle consumption will continue to grow in the fourth quarter of this year.
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Web Title-Chinese vehicle production and sales increased by 8% and 9.1% from January to October
