China's auto sales fall 8.4% in September

China's vehicle sales fell 8.4 percent year-on-year in September, as domestic demand remained sluggish despite a month-on-month recovery, according to data released by the China Association of Automobile Manufacturers on Monday.

Automakers sold 2.956 million vehicles in September, down 8.4 percent from a year earlier but up 9 percent from August.

Vehicle production fell 8.7 percent year-on-year to 2.99 million units, although it rose 11.4 percent month-on-month.

In the first nine months, vehicle production and sales totaled 23.246 million and 23.271 million units, respectively, both down 4.5 percent year-on-year.

Chen Shihua, deputy secretary-general of the association, said the year-on-year declines in September were relatively pronounced and domestic sales remained weak.

He expected the subdued market conditions to persist in the coming months.

Passenger vehicle sales fell 9.5 percent year-on-year to 2.588 million units in September, while production dropped 9.4 percent to 2.626 million units.

In the January-September period, passenger vehicle sales declined 6.1 percent to 19.96 million units, with production falling 6 percent to 19.966 million units.

Commercial vehicles performed better, with sales edging up 0.2 percent year-on-year to 369,000 units in September, despite a 3.3 percent decline in production to 364,000 units.

In the first nine months, commercial vehicle sales rose 6.2 percent to 3.311 million units, while production increased 6.1 percent to 3.279 million units.

New energy vehicles remained a bright spot. Production reached 1.814 million units in September, up 12.2 percent year-on-year, while sales increased 13.6 percent to 1.823 million units.

NEVs accounted for 61.6 percent of all new vehicle sales during the month.

From January to September, NEV production rose 11 percent to 12.483 million units, while sales climbed 11.1 percent to 12.472 million units. NEVs accounted for 53.6 percent of total new vehicle sales over the period.

Chen said the 100,000-yuan-to-150,000-yuan ($14,900-$22,400) price segment had gained share in NEV passenger vehicle sales, reflecting automakers' product strategies. He added that the penetration rate of NEVs continued to rise.

Exports provided a stronger source of growth. China exported 1.053 million vehicles in September, up 61.4 percent year-on-year and 4.2 percent month-on-month.

Chen said monthly auto exports had exceeded 1 million units for four consecutive months, maintaining strong momentum.

In the first nine months, exports surged 65.8 percent to 8.205 million units. They are expected to exceed 10 million units this year.

Chinese-brand passenger vehicles continued to dominate the domestic market.

Their sales reached 1.996 million units in September, down 0.6 percent year-on-year, but accounted for 77.1 percent of total passenger vehicle sales.

In the first nine months, sales of Chinese-brand passenger vehicles edged up 0.6 percent to 14.743 million units, giving them a 73.9 percent market share.

Chen said Chinese brands continued to maintain a relatively high share of the passenger vehicle market.