China's NEV sales continue steady growth in Jan-Sept

BEIJING - China's new energy vehicle (NEV) sales and output posted robust growth in the January-September period against the backdrop of a sluggish broader automobile sector, industry data showed.

The country saw a total of 872,000 NEV cars sold in the first nine months of 2019, up 20.8 percent year-on-year, while production surged 20.9 percent to 888,000 units, data from the China Association of Automobile Manufacturers (CAAM) showed Monday.

Monday's data also showed the broader automobile sector, however, remained sluggish as the total car sales and output for the first nine months declined by 10.3 percent and 11.4 percent year-on-year to 18.37 million and 18.15 million units, respectively.

However, the decline of auto sales and production narrowed on a monthly basis compared with August as the sector entered the traditional "peak season" in September, the association said.

The rebound can be attributed to a sequence of the country's supportive policies in the third quarter to stabilize the economy, said Chen Shihua, assistant to the secretary-general of the CAAM.

The State Council, or China's cabinet in August announced 20 measures to boost the country's consumption, as the country will ease restrictions on car purchases to support auto sales.

Regions with limits on vehicle purchases should roll out measures to relax or lift the restrictions and support the purchase of new energy vehicles, according to a guideline issued by the State Council.