China’s auto production rose by 11.5pc in November from the prior year amid record sales. Chinese automakers produced 2.847mn units and sold 2.77mn, up by 9.6pc and 12.6pc from the prior year, respectively. In November, production increased by 11.5pc and sales by 7.6pc from October. Production and sales hit a yearly high in November, according to China Association of Automobile Manufacturers (CAAM) data.
In November, the production and sales of new energy vehicles rose to 198,000 and 200,000 units, respectively, up by 75.1pc and 104.9pc from the prior year and grew by 17.5pc and 24.1pc from October.
For the Jan-Nov period, China’s automobile production and sales fell by 3.0pc and 2.9pc from the prior period to 22.372mn and 22.47mn, respectively, which lags by 1.6pc and 1.8pc, respectively, in the Jan-Oct period. New energy vehicle production fell by 0.1pc in Jan-Nov from the prior period.
Policy support from local authorities and promotional activities have spurred auto consumption in China. Passenger vehicle sales rose by 8pc in November, as reported by Davis Index.