China's Car Sales Rebound with Government Subsidy Boost

The Chinese auto market sees a rise in vehicle sales after five months of decline, driven by increased subsidies for electric and fuel-efficient vehicles.

• China's passenger vehicle sales increased by 4.3% in September, reversing a five-month downward trend.
• Electric vehicles and plug-in hybrids accounted for over half of the sales, with a 50.9% increase in this category.
• Government subsidies for trade-ins have doubled, incentivizing consumers to upgrade to new-energy and fuel-efficient vehicles.
• China's auto production reached approximately 21.47 million units from January to September, marking a 1.9% year-on-year growth.
• Despite the rebound, sales of gasoline cars continue to decline, highlighting the shift towards electric vehicles in the Chinese market.

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