Chinese automakers reported a drop in total sales of new vehicles in September, the fourth straight month of decline. The slump was mainly due to weaker domestic demand.
The China Association of Automobile Manufacturers says new car sales stood at about 2.8 million units in September, down 1.7 percent from the figure for the same month last year. The figure includes exports.
Sales in the domestic market, which accounts for about 80 percent of total sales, slumped by 6 percent, as consumers are becoming more savings-conscious.
Meanwhile, the association says sales of EVs and other so-called new energy vehicles surged around 42 percent year-on-year.
These cars now account for about 46 percent of total sales.
Total auto exports, including gasoline cars, also jumped about 21 percent from the same month last year, shoring up the overall sales figure.
However, the US and some European nations are raising tariffs on Chinese EVs. The focus now is on whether such moves will impact overseas sales of Chinese vehicles.
The China Association of Automobile Manufacturers says new car sales stood at about 2.8 million units in September, down 1.7 percent from the figure for the same month last year. The figure includes exports.
Sales in the domestic market, which accounts for about 80 percent of total sales, slumped by 6 percent, as consumers are becoming more savings-conscious.
Meanwhile, the association says sales of EVs and other so-called new energy vehicles surged around 42 percent year-on-year.
These cars now account for about 46 percent of total sales.
Total auto exports, including gasoline cars, also jumped about 21 percent from the same month last year, shoring up the overall sales figure.
However, the US and some European nations are raising tariffs on Chinese EVs. The focus now is on whether such moves will impact overseas sales of Chinese vehicles.
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Summary
Chinese automakers experienced a fourth consecutive monthly drop in new vehicle sales in September, with a 1.7% decrease year-on-year, primarily due to reduced domestic demand. Sales in the domestic market fell by 6%, as consumers prioritize savings. However, electric and new energy vehicles saw a
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ID: aae9986f-f2a3-4849-bce1-9ce06735ad76
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20241014_05/
Date: Oct. 14, 2024
Created: 2024/10/15 07:00
Updated: 2025/12/08 09:50
Last Read: 2024/10/15 07:25