BEIJING (Reuters) – China’s passenger car gross sales rose 4.3% in September from a yr earlier, snapping 5 months of decline with a lift from a authorities subsidy to encourage trade-ins as a part of broader stimulus package deal.
Gross sales hit 2.13 million autos in September, up from 2.04 million a yr earlier. For the primary 9 months of the yr, gross sales had been up 1.9% from 2023 ranges, in accordance with information from the China Passenger Automobile Affiliation.
Gross sales of electrical autos and plug-in hybrids jumped 50.9% and accounted for 52.8% of total gross sales. It was the third month in a row that battery-powered autos together with plug-ins outnumbered gross sales of gasoline vehicles in China.