China's autos sector sees growth momentum in the past nine months of 2024

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China's autos sector sees growth momentum in the past nine months of 2024

[13/10/2024 12:18]

BEIJING-SABA
China's automotive industry saw growth momentum as its production and sales of vehicles rose steadily in the first nine months of 2024, according to the China Association of Automobile Manufacturers data.

the Chinese news agency (Xinhua) reported that China's total car production was about 21.47 million units during the period from January through September, up 1.9 percent year on year, while cars sales reached 21.57 million units, up 2.4 percent from the same period last year.

In September, car production was about 2.8 million units, down 1.9 percent year-on-year, while total monthly sales were about 2.81 million units, down 1.7 percent year-on-year.

China's passenger car market has also seen a gradual recovery, with retail sales growing stronger in the third quarter of this year, thanks to government policies encouraging car replacement.