China NEV production, sales posted 3rd on-year decline in Sep: CAAM

SHANGHAI, Oct 14 (SMM) – China’s production and sales of new energy vehicles (NEVs) in September continued their year on year decline, showed data from the China Association of Automobile Manufacturers (CAAM) released on Monday October 14. 

NEV production and sales in China stood at 89,000 units and 80,000 units in September respectively, down 29.9% and 34.2% from September 2018. The decline in sales expanded from a 15.8% drop in August. 

For the first nine months of 2019, NEV sales amounted to 872,000 units, up 20.8% from the same period last year, with production rising 20.9% on an annual basis to 888,000 units. 

CAAM data also showed that car sales contracted on a yearly basis for the 15th consecutive month in September, falling 5.2% from a year ago to 2.27 million units. This rebounded from August’s 1.96 million units due to a traditional high demand season of September and October.

Sales of automobiles in January-September were 10.3% lower than the same period of 2018. The decline narrowed from a drop of 11% in January-August.