China Jan auto sales post first monthly rise after eight months of falls

Automotive sales in China rose 0.9% in January from a year earlier, their first uptick after eight consecutive months of declines, industry data showed on Friday.

Overall sales in the world's biggest car market rose to 2.53 million vehicles in January, data from the China Association of Automobile Manufacturers (CAAM) showed.

Sales of new energy vehicles (NEVs) in January reached 431,000, for an annual increase of 135.8%, according to the data.

Despite the year-on-year growth, sales of NEVs, which include battery-powered electric vehicles, plug-in petrol-electric hybrids and hydrogen fuel-cell vehicles, fell 18.6%month-on-month after China cut subsidies for NEVs by 30% since January.

December sales