Passenger vehicle retail sales in China are expected to amount to 1.65 million units in March this year, up 3.7 percent year on year, while increasing by 49.5 percent month on month, according to the China Passenger Car Association (CPCA).
Meanwhile, new energy passenger vehicle retail sales in China are expected to reach 750,000 units in March, up 37.1 percent year on year, while rising by 93.2 percent month on month, with the market share of new energy passenger vehicles likely to reach 45.5 percent in the given month.
The CPCA said that March is the traditional peak season for vehicle sales, while local governments’ issuance of stimulus policies has also positively affected the vehicle market.