Passenger vehicle retail sales in China in April this year are estimated at 1.652 million units, up four percent month on month, while up 58 percent year on year, according to the preliminary statistics issued by China Passenger Car Association (CPCA). Meanwhile, new energy vehicle (NEV) retail sales in China in April are estimated at 529,000 mt, down three percent month on month, while up 87 percent year on year.
In the January-April period this year, passenger vehicle retail sales in China are estimated at 5.938 million units, remaining stable year on year. In particular, new energy vehicle retail sales in China in this period are estimated at 1.852 million units, up 37 percent year on year, though the pace of growth has slowed down.
The CPCA forecasts that passenger vehicle retail sales in China will likely amount to 23.5 million units in 2023, while new energy vehicle sales are expected to amount to 8.5 million units in 2023, with a share of 36 percent.