BEIJING — China’s auto sales grew 3 percent year on year in the first eight months of 2024, data from the China Association of Automobile Manufacturers showed Tuesday.
Total sales came in at about 18.77 million units for the January-August period, the data showed.
During the period, the production of China’s automakers reached 18.67 million vehicles, up 2.5 percent year on year.
In August alone, auto sales shrank 5 percent from a year ago to approximately 2.45 million units, while the output declined 3.2 percent to 2.49 million units.
The auto market was about to usher in its peak sales season, said Chen Shihua, deputy secretary-general of the association, referring to the months of September and October.
Highlighting the effects of trade-in programs, Chen said these policy measures will help boost the auto market for the rest of this year and further unleash the consumption vitality of the market.
China’s auto exports expanded 25.4 percent year on year to 511,000 units last month, the data showed.