China’s auto sector shows strong growth momentum in the first nine months

Picture by CFP

China's automobile industry has shown a growth trend, with vehicle production and sales increasing steadily in the first nine months of 2024, according to data from the China Association of Automobile Manufacturers released onSaturday.

FromJanuary to September, China's auto production totaled about 21.47 million units, up 1.9 percent year on year, while auto sales reached 21.57 million units, an increase of 2.4 percent compared to the same period lastyear.

InAugust, China increased the financial stimulus to encourage consumers to scrap their old vehicles and buy new ones. Subsidies for trade-ins of new-energy passenger vehicles have doubled from 10,000 yuan (about 1,414 U.S. dollars) to 20,000 yuan, while those for trade-ins of fuel passenger vehicles have been lifted from 7,000 yuan to 15,000yuan.

At the same time, the export of finished vehicles has also seen steady growth. In the first three quarters, China's automobile exports reached4.312 million units, a 27.3 percent year-on-year increase. Among them, exports of NEVs totaled 928,000 units, up 12.5 percent year on year.

(By Jia Xiaojing/China Youth Daily)

来源：中国青年报客户端