Passenger vehicle retail sales in China totaled 1.021 million units in the March 1-26 period this year, down 1.0 percent year on year, while declining by 17.0 percent month on month, according to the China Passenger Car Association (CPCA). In the current year up to March 26, passenger vehicle retail sales in China amounted to 3.7 million units, down 15 percent year on year.
Meanwhile, new energy vehicle (NEV) retail sales in China totaled 387,000 units in the March 1-26 period, up 10.0 percent year on year, while up 1.0 percent month on month. In the current year up to March 26, NEV retail sales in China amounted to 1.157 million units, up 18.0 percent year on year.
Chen Shihua, deputy secretary general of the CPCA, stated at the EVH2023 Third Annual New Energy Powertrain Conference, that the effective demand for vehicles in the Chinese domestic market has not been completely released, while it is expected that vehicle sales in the first six months this year will amount to 12.4 million units, up 2.8 percent year on year, though vehicle sales in the January-March period may indicate a year-on-year decline of 10 percent.