Beijing: China’s automobile industry has demonstrated a steady growth in production and sales over the first nine months of 2024, according to recent data released by the China Association of Automobile Manufacturers.
According to Emirates News Agency, from January to September, the total auto production in China reached approximately 21.47 million units, marking an increase of 1.9 percent compared to the same period in the previous year. Similarly, auto sales during this period saw a rise, totaling 21.57 million units, which is a 2.4 percent increase year-on-year.
Despite the overall upward trend, September witnessed a slight decline in both production and sales figures. Auto production in September was nearly 2.8 million units, down by 1.9 percent year-on-year, while sales amounted to about 2.81 million units, decreasing by 1.7 percent compared to the same month last year.
The data also highlighted a recovery in China’s passenger vehicle market, particularly in the third quarter of 2024. Chen Shihua, dep
uty secretary-general of the association, noted that retail sales of passenger vehicles have shown significant improvement, driven by supportive government policies and the introduction of new models during the traditional sales peak in “Golden September and Silver October.”
Moreover, in August, the Chinese government enhanced financial incentives aimed at encouraging consumers to replace their old vehicles with new ones, contributing to the positive momentum in the auto market.