Vehicle sales in China increased reached almost 19.5 million units in the first nine months of 2022, an increase of 4% year on year.

Passenger sales accounted for nearly 17 million units, driven mainly by surging new energy vehicles (NEVs). 

In September alone, sales of NEVs reached 708,000, an increase of 94% year on year. The total for the year so far is more than 4.5 million NEVs, which is an increase of 109%.

NEV sales in China for the whole of this year are expected to top 6 million units. Demand has been driven by government incentives to encourage trade-ins of conventional petrol-powered vehicles for electric ones. In effect, this helped double NEV sales in the country between May and July. 

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