China sold 1.34 million cars in the first nine months of the year, up 69% from the same period last year, prompting the China Association of Automobile Manufacturers to upgrade its full-year sales forecast to 1.9 million units from 1.5 million, Dow Jones reported.
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Sales of locally made cars rose 50% year on year to 1.1 million units last year as prices fell sharply amid fierce competition and car makers launched several new models to cater to increasingly affluent Chinese consumers, the news agency noted, adding that the strong growth trend has continued throughout this year.
Chinese car production surged 87% year on year to 1.41 million units in the first nine months of the year, Dow Jones said.
Sales of motor vehicles, including cars, trucks and buses, rose 30% year on year to 3.12 million units during the January-September period, the trade group said, according to the report.
Overall vehicle sales are expected to reach 4.3 million units this year, up from the group’s original projection of 4.0 million made at the start of the year, spokeswoman Zhu Yiping told Dow Jones.
Vehicle production rose 36% to 3.2 million units during the nine-month period, Dow Jones added, noting that the statistics are only for domestically made vehicles.
