BEIJING/SHANGHAI (Reuters) – China auto sales marked a sixth straight month of gain, rebounding a solid 12.8% in September as the world’s biggest vehicle market comes off lows hit during the coronavirus lockdown.
This time of year, known as “Golden September, Silver October”, is usually a highpoint in sales for the industry, with consumers venturing out to make purchases after having stayed away from showrooms during the stifling summer months.
Sales reached 2.57 million vehicles last month but were still down 6.9% for the year to date at 17.12 million vehicles, according to the China Association of Automobile Manufacturers (CAAM).
“Based on our dealer channel checks, the growth in momentum extended into the October Golden Week, as retail sales exceeded dealers’ expectations,” said Haitong International analyst Shi Ji.
The Beijing auto show, promotional events and policies enacted by local governments to support the auto sector helped sales growth in September,