China's Vehicle Sales Show Growth in September

China's vehicle sales experienced a boost in September, thanks to sales promotions and holiday buying. The retail sales of passenger cars in the world's largest auto market increased by 5.0% compared to the previous year, reaching a total of 2.02 million vehicles. This growth can be attributed to higher demand leading up to October holidays and increased sales promotions by automakers striving to meet quarterly sales targets.

Strong Export Performance and Rise in New-Energy Car Sales

In September alone, exports surged by an impressive 50% compared to the previous year, contributing to a year-to-date growth rate of 68%. Additionally, retail sales of new-energy cars, including electric and plug-in hybrids, experienced a significant increase of 10.7% on a year-on-year basis.

Tesla's Success at Shanghai Plant

Tesla, a prominent player in the electric vehicle market, delivered 74,073 cars manufactured at its Shanghai plant during September.

Expectations for October Sales

The China Passenger Car Association (CPCA) anticipates another surge in demand for October sales due to a large number of individuals opting for car travel during the Golden Week holiday at the beginning of the month.

Opposition to the EU's Anti-Subsidy Investigation

The CPCA strongly opposes the European Union's investigation into anti-subsidy practices concerning electric vehicle imports from China. It emphasizes that China has already phased out its subsidies for new-energy vehicles last year. Nevertheless, if European officials determine that Chinese EV manufacturers are receiving subsidies detrimental to Europe's auto industry, tariffs may be imposed.