China's government announced in July a subsidy of more than $2,800 when consumers scrap an older car to replace it with an EV, doubling a subsidy introduced in April. The subsidy for a more fuel-efficient combustion vehicle is just over $2,100.

Retail sales of passenger vehicles in China rose by 2% year-on-year to 2.06 million units in September 2024, according to preliminary data released by the China Passenger Vehicle Association (CPCA). This follows five consecutive months of decline,

China’s passenger-vehicle sales rose in September, reversing five months of declines thanks to supportive government policies and improving consumer sentiment.

Chinese passenger vehicle sales in September rebounded with a 4.5% increase, driven by stimulus policies and strong demand for new-energy vehicles

China's car sales rose 4.3 percent in September after five straight months of decline, helped mainly by a government subsidy to try to stimulate car owners to trade in their vehicles, which is part of a larger stimulus package to shore up the economy.