Sales of passenger vehicle in China increases by 7 percent in March
(MENAFN) According to recent industry data, China witnessed a notable surge in passenger vehicle sales during March, reaching a total of 1.7 million units. This figure represents a 7 percent increase compared to the same period last year and a significant 54 percent rise from the previous month.
The momentum continued in the first quarter of the year, with passenger vehicle sales totaling 4.84 million units, marking a robust 13 percent year-on-year growth. These statistics, released by the China Passenger Car Association, underscore a sustained upward trend in consumer demand within the automotive sector.
Furthermore, the data highlights a particularly notable rise in the sales of new energy vehicles (NEVs) in China. Over the first three months of the year, NEV sales soared by 34 percent year-on-year, reaching a total of 1.76 million units.
March alone saw a substantial increase in NEV sales, with 698,000 units sold, reflecting a 28 percent rise compared to the same month in the previous year and an impressive 80 percent surge from the preceding month. These figures demonstrate the growing prominence and adoption of environmentally friendly vehicles within the Chinese market, aligning with broader efforts towards sustainable transportation initiatives.
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