China posts six-consecutive-month growth in auto sales, outputs

Shanghai (Gasgoo)- China auto outputs and sales reached 2.524 million units and 2.565 million units respectively in September, jumping 14.1% and 12.8% from a year ago, and showing growth for the sixth month in a row, according to the China Association of Automobile Manufacturers (CAAM).

Compared to August, China's auto market also achieved double-digit growth in both Sept. production and sales volumes.

In the Jan.-Sept. period, both auto outputs and sales represented year-on-year decrease standing below 7%.

In September, China's PV sales reached 2.088 million units, rising 8% and 19% compared to the prior-year period and August respectively. The car, SUV and minibus arms all attained year-on-year growth. Notably, the SUV segment achieved its highest-ever Sept. sales.

The year-to-date PV sales amounted to 13.376 million units with a 12.4% decline, versus the 15.4% decrease in the Jan.-Aug. volume. The sales of SUVs and minibuses dropped slower than that of cars and MPVs.

CV sales vigorously soared 40.3% from the previous year to 477,000 units in September, hitting a record-high level in terms of Sept. volume. The blooming growth stemmed from the upward movements displayed by both bus and truck sales. According to the CAAM, truck sales grew 9.5% year over year to 434,000 units, gaining an all-time high Sept. sales as well.

Automakers in China sold 138,000 new energy vehicles (NEVs) in September, a year-on-year hike of 67.7%. Thanks to governmental supports over NEV consumption and companies' powerful endeavors, China's NEV market achieved generally stable growth while making further progress and attained a new record-breaking Sept. sales figure, said the association.

To be specific, the sales of BEVs and PHEVs shot up 71.5% to 112,000 units and 53.9% to 26,000 units last month.

For the first nine months, NEV sales dwindled 17.7% over the previous year to 734,000 units, including 579,000 BEVs (-18.6% YoY), 154,000 PHEVs (-13.9% YoY) and 579 FCEVs (-53.7% YoY).