China's PV Retail Sales Rise in September
Retail sales of locally-produced passenger vehicles in China, including sedans, MPVs, and SUVs, rose by over 6% to 2.241 million units in September.
According to the China Passenger Car Association (CPCA), this represents an increase from 2.108 million units in the same month last year.
- This marks the eighth consecutive month of growth for the domestic passenger vehicle market.
- Consumers responded to government sales incentives, including an incentivised trade-in programme for old cars.
- Aggressive price competition among local manufacturers also contributed to the growth.
The gold standard of business intelligence.
Vehicle sales are expected to continue growing in the fourth quarter, ahead of the anticipated phase-out of government incentives at the end of the year.
Author's summary: China's PV retail sales increase by 6% in September.