In January this year, production and sales of automotive vehicles in China amounted to 1.594 million units and 1.649 million units, decreasing by 33.1 percent and 35.5 percent month on month, respectively, while down 34.3 percent and 35.0 percent year on year, according to the China Association of Automobile Manufacturers (CAAM).
In January, production and sales of passenger vehicles came to 1.397 million units and 1.469 million units, down 34.3 percent and 35.2 percent month on month, respectively, while both down 32.9 percent year on year.
In January, production and sales of commercial vehicles totaled 197,000 units and 180,000 units, down 23.9 percent and 38.1 percent month on month, while down 43.1 percent and 47.7 percent year on year, respectively.
In January, production and sales of new energy vehicles (NEVs) totaled 425,000 units and 408,000 units, up 6.9 percent and 6.3 percent year on year, respectively, while down 46.6 percent and 49.9 percent month on month, with the market share reaching 24.7 percent in the given month. The reduced subsidies for NEV sales and decreasing sales prices for some mainstream NEVs exerted a negative impact on the NEV market.
In January, China’s vehicle exports totaled 301,000 units, up 30.1 percent year on year, while down 7.1 percent month on month. In particular, NEV exports amounted to 83,000 units, up 1.1 percent month on month and rising by 48.2 percent year on year.