Car market loses momentum

The recently booming Chinese car market lost momentum in September. Sales of cars, buses and trucks in the world’s largest auto market rose 25.7 percent last month to 2.61 million vehicles – slower than in previous months – according to data from the manufacturers’ association CAAM. Government incentives for EVs spurred growth in previous months, but now analysts see signs of slowing demand (China.Table reported). Strict Covid measures in Shanghai and other cities had already affected sales in the first half of the year.