SAIC-GM is reporting strong sales for the Cadillac XT5 luxury crossover

SAIC-GM is reporting strong sales for the Cadillac XT5 luxury crossover

Data released by the China Association of Automobile Manufacturers (CAAM) shows that vehicle sales in China reached 2.57 million vehicles in September, a gain of 12.8% on September 2019 sales.

The gain continues the rapid rate of recovery in China's automotive market this year and is the sixth consecutive month of year-on-year growth.

However, cumulative sales of vehicles for the first three quarters of the year in China are 6.9% down on the same period last year, at 17.1 million units, reflecting lost sales in the early part of the year when China's market was hit by the COVID-19 induced population lockdowns.

The CAAM also reported that sales of passenger vehicles rose 8% in September, with a number of manufacturers reporting double digit growth. Some manufacturers - including General Motors - have reported strong growth for the third quarter in the world's largest vehicle market.

Reuters reported that New energy vehicles (NEVs - plug-in hybrids and battery electric vehicles) sales surged 67.7% to 138,000 units for their third consecutive month of gain.

CAAM also reported that September was a strong month in China for commercial vehicles - an indicator that the Chinese economy is continuing to recover. Reuters reported that sales of trucks and other commercial vehicles (accounting for around 25% of the total vehicle market) were up by 40% in September, boosted by public sector capital spending and tougher vehicle emission rules.