Prior to the holidays, China’s car sales climbed in September and reached over 2 million, according to figures made public by the China Passenger Car Association.
From a year ago, auto sales increased by about 5.0 percent in September. At the same time, sales of energy vehicles increased by 22.1% over the previous year to 746,000 units.
The association reported that in the first nine months of the year, energy passenger car sales experienced a significant yearly growth of 33.8 percent.
The CPCA saw that customers chose to purchase new automobiles rather than make house investments during the slump in the real estate industry.
According to figures, passenger automobile exports increased 50% year over year in September.
Data were released after Brussels formally opened an inquiry into the Chinese electric vehicle industry. The EU expressed concern that Chinese electric vehicle producers’ subsidies endanger the already precarious position of EU automakers.
China referred to the investigation as a protectionism move and warned that it would slow down the supply chain.
Source: RTT NEWS
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