In March this year, production and sales of passenger vehicles in China amounted to 2.149 million units and 2.017 million units, increasing by 25.1 percent and 22.0 percent month on month, respectively, while up 14.3 percent and 8.2 percent year on year, according to the China Association of Automobile Manufacturers (CAAM).
In the January-March period this year, production and sales of passenger vehicles reached 5.262 million units and 5.138 million units, down 4.3 percent and 7.3 percent year on year.
In March, both production and sales of commercial vehicles totaled 434,000 units, up 37.1 percent and 34.2 percent month on month, while rising by 20.4 percent and 17.4 percent year on year, respectively.
In March, production and sales of new energy vehicles (NEV) totaled 674,000 units and 653,000 units, up 22.0 percent and 24.4 percent month on month, respectively, while increasing by 44.8 percent and 34.8 percent year on year.
As previously reported by SteelOrbis, In the first three months this year, production and sales of new energy vehicles (NEV) totaled 1.65 million units and 1.586 million units, up 27.7 percent and 26.2 percent year on year, respectively, with the share of NEVs in the market reaching 26.1 percent in the given month.
According to CAAM, demand for vehicles was still slack in March. The industry’s task of ensuring steady growth will continue to be very difficult in April.