China's new energy vehicle sales rise 14% in September

China auto industry: China’s auto industry is a major manufacturing and consumer market spanning conventional vehicles, electric cars, plug-in hybrids, batteries, and related supply chains. The reported September result reflects continued expansion of new-energy vehicles, although recent industry data distinguish between stronger wholesale performance and weaker domestic retail demand. Industry trend: The China Association of Automobile Manufacturers reported that new-energy vehicles remained the strongest-performing segment of China’s auto market in recent reporting, with their share of new-car sales reaching a record level. Market composition: Recent industry estimates indicate that new-energy vehicles accounted for more than half of passenger-vehicle sales in China, underscoring the sector’s growing importance despite broader weakness in conventional-car demand. Wholesale versus retail: Recent September data showed wholesale new-energy vehicle sales growing year over year while retail sales declined, suggesting that exports and manufacturer shipments helped support headline industry growth.