Passenger vehicle retail sales in China in October this year reached 1.992 million units, up 8.0 percent year on year, indicating positive growth at a relatively high level for the fourth consecutive month.
Passenger vehicle retail sales in the January-October period of the current year declined by 10.2 percent year on year, 2.3 percentage points slower than the decline of 12.5 percent recorded in the January-September period, reflecting a trend of recovery in the vehicle market.
The traditional peak season in October and Beijing Auto Show positively affected passenger vehicle retail sales in the given month.
The Ministry of Industry & Information Technology (MIIT) has forecast that China will continue to be the largest automotive market in the world and will see further growth amid national economic growth and the development of urbanization.