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Auto market expects to rev up sales going ahead

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Auto market expects to rev up sales going ahead

2022-09-14 14:12:39

Both traditional and new energy vehicles in China may maintain robust growth momentum thanks to supportive policies and market factors, industry experts said.

The world's largest automobile market produced 2.4 million units and sold 2.38 million in August, rising 38.3 percent and 32.1 percent on a yearly basis, respectively, said the China Association of Automobile Manufacturers.

Between January and August, auto output surged 4.8 percent year-on-year to 16.97 million units, while sales rose 1.7 percent to 16.86 million units, said the association.

Chen Shihua, CAAM deputy secretary-general, said: "Purchase tax incentives and other consumption-promoting policies continued to inject vitality into the passenger car market. Even with fluctuations in economic performance, automobile consumption remained resilient and has gradually returned to normal."