The Chinese car market continued to grow in September. Deliveries of cars to end customers rose by 6 percent year-on-year to 2.24 million vehicles, according to preliminary figures reported by the PCA industry association in Beijing over the weekend.
The main boost came from electric and plug-in hybrid cars. Cars branded as NEV (new energy vehicles) in China grew by 16 percent to 1.31 million.
German manufacturers are currently having a difficult time in their former growth market of China. Volkswagen (Volkswagen (VW) vz) is struggling with the discount battle of local electric car suppliers. Sales figures at Mercedes-Benz (Mercedes-Benz, BMW and Porsche) are slipping significantly because wealthy Chinese are less likely to buy German premium brands than before.
Buyers’ money is no longer so easy because of the real estate crisis in the country, among other things. China is the world’s largest car market and also the most important individual market for German companies.
BEIJING (dpa-AFX)
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