China’s car sales quicken in September, exports rise 50%

Car sales in China increased by 4.7% in September compared to the previous year, driven by people buying discounted and new models ahead of holidays. Passenger vehicle sales reached 2.04 million units, with new energy vehicle sales rising by 22.1%. However, overall consumer sentiment remains subdued despite the boost in car sales, as the country’s economy slows down. The property market downturn has led to more people choosing to invest in cars instead of housing. China’s car market saw a 2.1% increase in sales for the first nine months of the year, reaching 15.41 million units.