China’s car sales surge 16.6% in Nov

China’s car sales surged by 16.6 per cent in November compared to the previous year, marking the fastest growth since January, according to data from the China Passenger Car Association (CPCA) on Monday.

The increase was driven by a boost in government-subsidised auto trade-ins as the year-end approached.

November sales reached 2.45 million units, bringing the year-to-date total for the first 11 months of 2024 to a 4.4 per cent increase compared to the same period in 2023.

Sales of electric vehicles (EVs), plug-in hybrids, and extended-range vehicles rose by 50.5 per cent year-on-year (YoY), representing 51.8 per cent of overall sales. This marks the fifth consecutive month that battery-powered and plug-in cars have outsold gasoline vehicles in the world’s largest automotive market.

Attribution: Reuters

Subediting: Y.Yasser