Tracy Qu of The Wall Street Journal reports that China auto sales sustained momentum on subsidies and sales campaigns. Qu writes:
Chinese car sales rose sharply last month, driven by government subsidies and sales campaigns.
Retail sales of passenger cars in November rose 16.5% from a year earlier to 2.42 million units and were up 7.1% from October, the China Passenger Car Association said Monday.
China’s auto market extended its strong momentum that began in October, helped by the government’s trade-in policy, the CPCA said in an article posted on its official WeChat account. […]
Retail sales of new-energy cars, which include electric and hybrid vehicles, made up 52.3% of all passenger vehicle sales in November, the CPCA said, the fifth consecutive month the rate surpassed 50%.
BYD maintained its leading position in China in November, selling 504,003 units. Tesla China sold 78,856 vehicles last month. […]
The CPCA projected auto retail sales to grow 6% in 2024 and said the market trend is significantly better than what was expected at the beginning of the year.
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