China’s new vehicle market reversed a five-month slump in September with sales rising by 2.1% to 2.02m units from 1.98m units a year earlier, according to the China Association of Automobile Manufacturers (CAAM).
The association attributed the stabilisation of the market to economic stimulus measures introduced by the central government in recent months. Sales in the first nine months of the year were 0.3% higher at 17.06m units.
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Light passenger vehicle sales in September rose by 3.3% to 1.75m units while commercial vehicle sales continued to fall – by 4.9% to 274,000 units.
Sales of new energy vehicles, mainly plug-in electric and hybrid, rose by 220% to 28,100 units, reflecting government measures to promote this segment as part of its efforts to reduce air pollution.
