China's auto sector reports record production and sales figures

China's auto production and sales both surpassed 20 million units in the January–August period for the first time, with new energy vehicles accounting for 45.5 percent of total new car sales, according to data released by the China Association of Automobile Manufacturers (CAAM) on Thursday.

During the period, auto production reached 21.05 million units and sales stood at 21.13 million, up 12.7 percent and 12.6 percent year-on-year, respectively, CAAM said.

New energy vehicles (NEVs) remained a major growth driver, with output reaching 9.63 million units and sales at 9.62 million units, surging 37.3 percent and 36.7 percent year-on-year, respectively. NEVs made up 45.5 percent of total new car sales.

Exports also registered strong growth. From January to August, auto exports totaled 4.29 million units, up 13.7 percent from a year earlier. Of these, NEV exports came in at 1.53 million units, a robust increase of 87.3 percent.