© Reuters. FILE PHOTO: Vehicles drive on the street through the morning rush hour in Beijing, China, July 2, 2019. REUTERS/Jason Lee
SHANGHAI (Reuters) – China’s passenger automobile gross sales totalled 1.67 million models in November, down 9.5% from the identical interval in 2021, the China Passenger Automotive Affiliation (CPCA) stated on Thursday.
Auto business physique officers anticipated customers to hurry to purchase on the year-end earlier than authorities subsidies and a purchase order tax lower expire.
However the incentives did little to spice up automobile gross sales in current months, with gross sales falling in November for the primary time since Might, as lots of China’s COVID restrictions remained in place final month, dampening demand and slowing manufacturing actions.U.S. electrical automobile maker Tesla (NASDAQ:) bought 100,291 China-made automobiles in November, together with 37,798 for export, CPCA added.