Data released by the China Association of Automobile Manufacturers (CAAM) on October 11 showed that in the first three quarters of this year, China’s automobile market as a whole maintained steady growth.
Data from the CAAM showed that in September, automobile production and sales continued to grow, both hitting a record high for the same period in history. In September, automobile production reached 2.85 million units, up 10.7% MoM and 6.6% YoY, while sales stood at 2.858 million units, up 10.7% MoM and 9.5% YoY. From January to September, automobile production and sales completed 21.075 million units and 21.069 million units respectively, up 7.3% and 8.2% YoY respectively.
Chen Shihua, deputy secretary-general of the CAAM, said that according to the dates of January to September, in the third quarter, the overall performance of automobile production and sales was better than expected. A series of national-level policies to promote consumption were introduced, and local government also actively formulated implementation measures such as issuing consumer vouchers. Regardless of the off-season or peak season, automobile market performance was always booming.
The reporter also learned that according to the data from January to September, passenger car production and sales maintained a good momentum of development. Among them, the market share of Chinese brand passenger cars increased steadily to 54.6% with sales of 9.895 million units, up 6.5 percentage points.
Chen Shihua also said that as various policies to promote automobile consumption and stabilize industry growth continue to be implemented and take effect, automobile market will receive firm support in the fourth quarter, which is conducive to achieving the steady growth of the automobile industry throughout the year.
