After three months of declines, Chinese car sales have rebounded into positive territory in September, up 6,8% to almost 1,7 million locally produced models, with a Seasonally Adjusted Annualized selling Rate (SAAR) at 19 million units, the highest it’s been since last May. As we’ve seen for almost the entire year, the only segment to boost sales is the SUV segment, up 59% to 566.500 units, while the other segments continue to slide, at -11% to 951.500 sales for sedans and -4,1% to 161.300 for MPVs. Year-to-date, just over 13,8 million domestically produced cars have been sold in China, an increase of 5,4%. As the Chinese government has cut the purchase tax on small cars (with engines of 1,6 liters or less) in half, effective from October until the end of next year, car sales in China are set to remain robust for the rest of the year.
EVs and Plug-In Hybrids had an excellent month in September, with EV sales quadrupling to more than 19.000 units and PHEV sales up 230% to 8.800 units, both thanks to tax incentives of (local) governments. In the first three quarters of 2015, combined EV and PHEV sales are up 330% to 87.500 full electric cars and 49.200 plug-ins.
Please note these figures exclude import models, unless specifically noted. [Read more…]