China's new car sales for the two months of January and last month increased by more than 11% compared to the same period last year, due to strong sales of new energy vehicles such as EVs. This resulted in an increase in
According to the Automobile Manufacturers Association, which is made up of Chinese automakers, new car sales last month totaled 1,584,000 units, due to the Lunar New Year holidays and fewer business days at factories and dealerships. This was a 19.9% decrease compared to the same month last year.
On the other hand, after smoothing out the impact of the Chinese New Year, sales volume for the two months of January and last month increased by 11.1% compared to the same period last year.
Sales of new energy vehicles such as EVs continued to be strong, increasing by 29.4% compared to the same period last year, and new energy vehicles accounted for 30% of total sales.
However, in China, in addition to the expansion of the EV market, price competition among automakers is intensifying due to consumers becoming more frugal, and the domestic profit environment is becoming tougher.
On the other hand, exports in January and last month totaled 822,000 vehicles, an increase of 30.5% compared to the same period last year, continuing to expand at a faster pace than last year, when Japan became the world's number one exporter of automobiles.