China sells 9.23M passenger cars in Jan-Nov, up 50% image

China’s passenger vehicle sector saw a continuous growth both in output and sales in the first 11 months of this year, with 9.23 million cars sold in the period, up 49.7%, Xinhua News reported yesterday, citing industry data.

In November, passenger car sales reached 1.04 million units, up 9.5% month on month and up 98.23% year on year. Output increased 10.76% m/m and up 101.42% y/y to 1.07 milion, said China Association of Automobile Manufacturers (CAAM).

From January to November, passenger vehicle sales surged 49.7% to 9.23 million units. Output was also able to jump 47.47% to 9.2 million units.

The passenger car / vehicle sales include those of sedans, SUVs and minivans. Government incentives spurred demand in China, which is set to surpass the U.S. as the world’s biggest auto market this year.

For the first 11 months, homegrown passenger car sales totaled 4.09 million units, accounting for 44.35% of China’s total. The sales of Japanese, German, American, South Korean, and French-brand passenger cars stood at 1.96 million, 1.31 million, 897,700, 724,500, and 237,100 units, respectively.

Sales of domestically produced cars in the January to November period alone reached 1.95 million, or 29.39% of China’s total.

The best-selling sedan model in November was the BYD F3 at 31,986 units, followed by the Buick Excelle at 22,200 units.

Source: Gasgoo