All Things Newz

China Jan-Aug vehicle sales +1.7% y/y – industry association

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BEIJING — China’s auto sales reached 2.38 million units in August, increasing 32.1% from a year ago, as they extended a recovery led by electric vehicles (EV) whose sales have been boosted by government incentives.

Sales for the first eight months were 1.7% higher than the same period in 2021, data from the China Association of Automobile Manufacturers (CAAM) showed on Friday.

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August sales of new energy vehicles, which include pure electric vehicles, plug-in hybrids and hydrogen fuel-cell vehicles, increased 100% from the previous year.

CAAM tracks broader auto sales including passenger vehicles, buses and trucks while the China Passenger Car Association, which reported July sales on Thursday, focuses on retail sales of cars. (Reporting by Beijing newsroom and Zoey Zhang; Editing by Kim Coghill)

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