China's auto production,sales both surpass 20 million units for the first time from January to August,according to data from China Association of Automobile Manufacturers(CAAM),CCTV News reported on Thursday.
In the first eight months,China's automobile production reached 21.051 million units,up 12.7 percent year on year,while sales totaled 21.128 million units,up 12.6 percent,the report said.
The growth of the auto market has been primarily driven by the government's consumption-stimulating policies,particularly the trade-in program,which spurred rapid growth in the first half of the year,Cui Dongshu,secretary-general of the China Passenger Car Association,told Global Times on Thursday.
Overall,vehicle production and sales are expected to surpass 30 million units for the full year,the industry insider estimated.
Within this,new energy vehicle(NEV)production reached 9.625 million units,up 37.3 percent year-on-year,while NEV sales totaled 9.62 million units,an increase of 36.7 percent.NEVs accounted for 45.5 percent of total new car sales,according to the report.
The growth in NEVs has been especially notable.Cui said that the market has recognized the momentum of NEVs,and consumer enthusiasm for purchasing them remains high,driving comprehensive growth across the sector.In particular,this year,small and micro electric vehicles have performed exceptionally well,sustaining strong growth,Cui said.
In terms of exports,from January to August,China exported 4.292 million vehicles,up 13.7 percent year-on-year,CCTV News reported.Among them,NEV exports reached 1.532 million units,a sharp increase of 87.3 percent year-on-year.
A representative from the CAAM contributed the growth with timely implementation of personal consumption loan subsidies and other measures,according to CCTV News.The enthusiasm of companies to launch new models remains high,and the industry's comprehensive efforts to curb over-competition continue to show results,keeping the overall automotive industry operation stable,the representative said.
