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China vehicle sales to rise in September on stimulus measures, new models
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TechNode
China’s passenger car sales are expected to rise 4% in September year-on-year and 10.1% month-on-month to 2.1 million units.
An estimate by the China Passenger Car Association (CPCA) said new enery vehicles (NEVs), mainly battery electric vehicles and plug-in hybrids, could expand its market share with a penetration rate of 52.4%, and sales of NEVs could rise 47.3% year-on-year to 1.1 million units.
This growth is mainly attributed to increased government subsidies for scrapped vehicles and new product launches beefed up by automakers.
Beijing has received more than 1 million subsidy applications as of Sept. 14.
[China Passenger Car Association, in Chinese]Related
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