China passenger car sales slide in November
12/12/2022
After six months of rising sales, China’s passenger car market, like most other segments of the economy, took a dive in November.
Sales in November fell by 9.5% year on year, reaching a little under 1.7 million units.
The China Association of Automobile Manufacturers (CAAM) has said that sales overall grew by 3.3.% in the first 11 months of the year.
New energy vehicles (NEVs) have been the star performers with sales surging to around 6 million units, an increase of 72% over the same months in 2021. Government trade-in incentives to buy NEVs have boosted this sector.
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