On January 17, the China Association of Automobile Manufacturers (CAAM) released figures showing that production and sales of new energy vehicles (NEVs) in January continued to grow at a rapid pace. The country produced 1.015 million NEVs and sold 944,000, reflecting year-on-year increases of 29% and 29.4%,
Source: People's Daily
On January 17, the China Association of Automobile Manufacturers (CAAM) released figures showing that production and sales of new energy vehicles (NEVs) in January continued to grow at a rapid pace. The country produced 1.015 million NEVs and sold 944,000, reflecting year-on-year increases of 29% and 29.4%, respectively. NEVs accounted for 38.9% of all new car sales during the month.
Overall, China’s total automobile production reached 2.45 million units in January, marking a 1.7% increase compared to the same period last year. However, total vehicle sales slightly declined by 0.6%, reaching 2.423 million units. Despite the impact of the Spring Festival holiday, factors such as the "trade-in" policy and the holiday-driven boost to the economy contributed to a small increase in production, giving the industry a stable start to the year.
In the passenger car sector, production and sales totaled 2.151 million and 2.133 million units, respectively, with year-on-year growth of 3.3% and 0.8%.
Exports of NEVs outperformed those of traditional fuel-powered vehicles. In January, China exported 470,000 vehicles, a 6.1% year-on-year increase. Exports of NEVs reached 150,000 units, marking a 12.6% month-on-month rise and a significant 49.6% increase compared to the previous year.