VWAPY - China auto sales drop 20% in September as global chip shortage sustains

Automobile sales in China declined 19.6% Y/Y in September to 2.07M vehicles, falling for a fifth consecutive month as a prolonged global shortage of semiconductors disrupts production. Sales of passenger cars in September fell 17% Y/Y to 1.58M vehicles, the China Passenger Car Association said. China's car sales in Q3 2021 declined 13% Y/Y. Deliveries of new-energy vehicles, which include EVs and plug-in hybrids, soared 202% from a year earlier to 334,000 units in September. “We see strong sales momentum for new energy vehicles going forward,” PCA Secretary General Cui Dongshu said. “Exports to the EU have been spurring overseas shipments.” Sales in China for Toyota Motor (NYSE:TM), Japan's largest automaker, fell 35.9% Y/Y to 115,000 units last month, after decreasing 11.9% in August. Honda Motor (NYSE:HMC) saw new car sales drop 28.1% to 121,448 units in China in September, while its electric vehicle business was stagnant. Sales for Nissan

For further details see:

China auto sales drop 20% in September as global chip shortage sustains