According to data released on Saturday by the China Association of Automobile Manufacturers, the country’s car sector has demonstrated a growth trend, with both vehicle production and sales rising steadily in the first nine months of 2024.
China produced over 21.47 million automobiles between January and September, an increase of 1.9% from the previous year. According to Xinhua News Agency, auto sales increased by 2.4% to 21.57 million units over the same period last year.
Auto production was down 1.9 percent year-over-year in September at about 2.8 million units, while monthly sales were down 1.7 percent year-over-year at roughly 2.81 million vehicles.
According to Chen Shihua, deputy secretary-general of the association, China’s passenger vehicle market has been steadily improving, with retail sales increasing in the third quarter of this year. This success can be attributed to government policies that encourage vehicle trade-ins and manufacturers introducing new models during “Golden September and Silver October,” when car sales are at their highest. China raised its financial stimulus in August to encourage people to buy new cars and get rid of their old ones.
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