By Yilei Sun and Brenda Goh
BEIJING, Oct 13 (Reuters) – Automobile sales in China rose 12.8% in September from the same month a year earlier, marking the sixth consecutive month of gain, as the world’s biggest vehicle market comes off lows hit during the coronavirus lockdown.
Sales reached 2.57 million vehicles last month, showed data from the China Association of Automobile Manufacturers (CAAM).
Sales are still down 6.9% for the first nine months of the year at 17.12 million vehicles, CAAM said.
Auto insiders refer to “Golden September, Silver October” as they regard the months as the high season for China sales, with drivers venturing out to make purchases having stayed away during the stifling summer months.
Reflecting that trend, sales of passenger vehicles rose 8% in September. Geely Automobile Holdings Ltd 0175.HK, Great Wall Motor Co Ltd 601633.SS and Toyota Motor Corp 7203.T booked double-digit growth.
New energy vehicle (NEV) sales surged 67.7% to 138,000 units for their third consecutive month of gain. NEVs include battery-powered electric, plug-in petrol-electric hybrid and hydrogen fuel-cell vehicles.
Electric vehicle makers such as home-grown Nio Inc NIO.N and Xpeng Inc XPEV.N to U.S. leader Tesla Inc TSLA.O are expanding manufacturing capacity in China where the government promotes greener vehicles to reduce chronic air pollution.
For trucks and other commercial vehicles, which constitute around a quarter of the overall market, sales surged 40%, driven by government investment in infrastructure and as buyers upgraded to comply with tougher emissions rules.
(Reporting by Yilei Sun and Brenda Goh; Editing by Christopher Cushing)
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