Sales of passenger vehicles throughout China maintained their vigor in September, even though resurgent COVID-19 cases in many regions of the country are negatively impacting automotive sales, the China Association of Automobile Manufacturers (CAAM) said in a release posted on its official WeChat account on October 18.
Last month, Chinese passenger car sales topped 2.33 million units, up 9.7% from August and by a sizzling 32.7% from September last year, according to the association. “Sales continued the fast growth momentum seen over June-August,” it said, citing the support the industry enjoyed from government policies halving the new car purchase tax which helped boost consumption.
Within the total in September, sales of internal combustion passenger vehicles rose 11% on month or up 12.2% on year to reach 1.45 million units, the CAAM data showed.
During the past nine months, a total of 16.99 million passenger vehicles were sold in China, up 14.2% on year, with the growth higher by 2.5 percentage points from the January-August period, said the association.
The category of passenger cars mainly includes sedans, sport utility vehicles, multi-purpose vehicles and minivans, Mysteel Global noted from the release.
The CAAM data showed that sales of premium brand passenger cars throughout China surged even higher by 48.5% on year to 383,000 units in September, “showing strong resilience and a fast recovery,” the association said.
Consequently, 2.76 million premium brand passenger cars were sold in China over January-September, up 10.9% on year. “(Sales of) some luxury cars had also been propelled by the tax cut,” the release noted.
Meanwhile, China’s sales of all types of automobiles including commercial vehicles and buses in September jumped by 25.7% on year to 2.61 million units, also gaining by 9.5% on month. As a result, total sales for January-September grew by 4.4% on year to 19.47 million units, as reported.
Written by Rong Zhang, zhangronga@mysteel.com
Note: This article has been written in accordance with an article exchange agreement between Mysteel Global and SteelMint.
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