In the January-October period this year, production and sales of automotive vehicles in China amounted to 24.466 million units and 24.624 million units, increasing by 1.9 percent and 2.7 percent year on year, respectively, with the growth rates remaining stable and 0.3 percentage points faster compared to those recorded in the January-September period, according to the China Association of Automobile Manufacturers (CAAM).
In October alone, production and sales of automotive vehicles in China amounted to 2.996 million units and 3.053 million units, increasing by 7.2 percent and 8.7 percent month on month, while rising by 3.6 percent and 7.0 percent year on year, respectively.
The CAAM stated that, with the cumulative effects of official policies continuing to manifest, combined with the year-end push from automakers and dealers, consumption in the automotive market will be boosted. It is expected that auto sales will continue to see a rising trend in the remaining two months of the current year.