China's new car sales rose slightly above the same month last year, turning positive for the first time in nine months, partly due to some improvement in the impact of semiconductor shortages.

According to the "China Automobile Manufacturers Association" made by Chinese automobile manufacturers, the number of new cars sold in China last month was 2,531,000 units, 0.9% higher than the same month last year.

Sales of new cars in China continued to be negative due to the impact of a global shortage of semiconductors, which was one of the factors behind the economic slowdown, but turned positive for the first time in nine months.

This is mainly due to the fact that the impact of the semiconductor shortage has improved somewhat and that demand has increased before the Golden Week holidays.

In addition, the number of "new energy vehicles" such as EV = electric vehicles sold was 431,000 units, an increase of 2.3 times compared to the same month last year, and it continues to grow significantly.

Regarding the future outlook, the "China Automobile Industry Association" says that local governments in each region are expected to introduce policies to promote new car sales, and manufacturers have set higher production targets.

On the other hand, he also said, "In addition to the continuing shortage of semiconductors, sporadic infections with the new coronavirus are occurring."