China’s passenger-vehicle retail sales totaled about 1. 7 million in September, down 24% from a year earlier, as the market’s year-to-date decline continued. Sales were nevertheless roughly 10% higher than in August, with new-energy vehicles driving the monthly increase.
Passenger new-energy vehicle retail sales reached about 1. 1 million, a 12% year-over-year decline, but represented approximately 67% of all passenger-vehicle retail sales.
The China Passenger Car Association said elevated oil prices lasting longer than expected helped fuel exports. September’s comparison was also difficult because sales a year earlier benefited from purchases made before some Chinese regions tightened trade-in subsidies. BYD, Geely Auto, Chery, Leapmotor and Tesla ranked among the 10 largest passenger new-energy vehicle manufacturers by wholesale sales in September; XPeng, Li Auto and Nio ranked outside the top 10.