Sales of passenger cars in China rose 28.9 percent on-year in August -- the most in a decade -- driven by a surge in demand for electric vehicles, a trade body said Thursday.

A total of 1.87 million vehicles were sold last month, China's Passenger Car Association said, with sales of hybrid and electric units doubling on-year in the world's largest car market.

Sales had contracted sharply in May -- shrinking by 17 percent on-year -- and even more in April, which saw the biggest drop since 2020 at 40.4 percent.

The Chinese government introduced a string of measures, including a tax break extension, in July to stimulate sales of electric cars against the backdrop of an economic slowdown.

China's electric car market is particularly competitive, with manufacturers jostling to take advantage of an industry boosted in recent months by generous purchase subsidies from local governments.

The measures are supposed to support the economy at a time when sporadic Covid-19 lockdowns around the country have dampened consumer enthusiasm and business confidence.

Local manufacturer Geely saw its sales jump in August by 429 percent on-year.

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GEELY AUTOMOBILE HOLDINGS

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Chinese carmaker BYD to build Thai electric vehicle plant
Bangkok (AFP) Sept 8, 2022
A major Chinese carmaker struck a deal Thursday to build an electric vehicle plant in Thailand, according to the local property developer, its first factory in Southeast Asia. BYD, one of the most prominent Chinese brands in the electric vehicle market, will buy a 96-hectare plot to house the facility, from Thai property developer WHA Group. The site - about 140 kilometres southeast of Bangkok - will eventually be able to produce up to 150,000 vehicles a year and is expected to be operational ... read more