Passenger vehicle sales in China increased by 11.2% in October compared to the same month in 2023, marking the second consecutive monthly increase and the fastest growth since January.
According to data released by the China Passenger Car Association, sales in the world’s largest automotive market totaled 2.28 million vehicles last month, up 3% to 17.99 million from January to October.
Contributing to the growth of car sales in China were government subsidies of up to €2600 for trading in old vehicles for electric and more economical models.
In this regard, sales of electric and plug-in hybrid vehicles grew by 56.7% in October compared to the same period last year, accounting for 52.5% of total sales.
The China Passenger Car Association also revealed that this was the fourth consecutive month in which electric and plug-in hybrid vehicles sold more than gasoline-powered vehicles.
BYD was the sales leader, setting a new record by surpassing 500,000 units sold for the first time in October.
