China Automobile Association: Passenger car production and sales completed 2.502 million units and 2,525 million units respectively in September, up 12.6% and 15.8%, respectively.

The Zhitong Finance App learned that according to an analysis by the China Association of Automobile Manufacturers, since the implementation of the automobile trade-in policy, the boosting effect has been obvious. The number of applications for automobile scrapping and renewal subsidies has accelerated. Combined with local replacement and renewal policies, it has effectively driven an increase in passenger car sales, and the popularity of the car market has gradually picked up. In September 2024, passenger car production and sales completed 2.502 million units and 2,525 million units, respectively, up 12.6% and 15.8% from the previous month, and 0.2% and 1.5%, respectively. From January to September 2024, passenger car production and sales reached 18.643 million units and 18.679 million units, respectively, up 2.6% and 3% year-on-year, respectively.

In September 2024, among the main types of passenger cars, production and sales of the four major passenger car categories increased to varying degrees; compared with the same period last year, production and sales of sports multi-purpose passenger vehicles (SUVs) increased slightly, cross-type passenger car production increased markedly, sales declined by double digits, and production and sales of basic passenger cars (sedans) and multi-purpose passenger vehicles (MPVs) declined to varying degrees.

From January to September 2024, among the main types of passenger cars, production and sales of sports multi-purpose passenger vehicles (SUVs) increased slightly compared with the same period last year, while production and sales of the other three types of passenger cars declined to varying degrees.

In September 2024, domestic sales of passenger cars were 2,068 million units, up 18.6% from the previous month and down 1.8% from the previous year.

From January to September 2024, domestic sales of passenger cars were 1.546 million units, a year-on-year decrease of 1.6%.

In September 2024, 457,000 passenger cars were exported, up 4.5% month-on-month and 20% year-on-year.

From January to September 2024, 3.633 million passenger cars were exported, an increase of 28% over the previous year.