China 2022-09-15T04:49:24+03:00
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China's auto sales up 13.7% in Jan.-Aug.

China's auto sales up 13.7% in Jan.-Aug.

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China, vehicles, industry, PRC, automobile, NEV
Vehicles proceed slowly on the expressway around Guangzhou, capital city of south China's Guangdong Province. Photo by Xinhua/Lu Hanxin.
Vehicles proceed slowly on the expressway around Guangzhou, capital city of south China's Guangdong Province. Photo by Xinhua/Lu Hanxin.

China's auto sales rose 13.7% year on year to 16.56 million units in the first eight months of 2021, data from the China Association of Automobile Manufacturers (CAAM) showed, The Xinhua News Agency reported.

Sales of passenger vehicles increased 16% year on year to 13.11 million units between January and August.

In August alone, auto sales totaled nearly 1.8 million units, down 17.8% year on year.

Sales of new energy vehicles (NEVs) in China hit a record high of 321,000 units last month, up 180% year on year.

In the eight-month period, NEV sales surged 190% year on year to 1.8 million units, the data showed.

China's auto export increased 130% from a year earlier to 1.19 million units in the January-August period.

According to the data, the country's auto production rose 11.9% year on year to 16.17 million units in the first eight months.

China's economy is expected to remain generally stable in the fourth quarter of this year, underpinning stable demand for auto consumption, the CAAM said.

CAAM, however, added that it is optimistic but cautious about the future of the auto industry, considering chip shortage due to the resurgence of COVID-19 cases overseas and increasing cost pressure of automakers.

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