China's passenger car sales soar in January

MOSCOW, 17 Feb – Project “Russia-China: Main” . Passenger car sales in China jumped sharply in January this year from January 2020, driven by rising demand ahead of the Spring Festival and local government consumption incentives, the China Passenger Car Association said.

Retail sales of passenger vehicles, including sedans, sports-recreational vehicles and utility vehicles, rose 25.7% year-on-year to 2.16 million units in January. According to the association, this figure fell by 5.6% on a monthly basis.

Wholesale sales of passenger cars powered by new energy sources showed strong growth last month, jumping 290.6% year-on-year to about 168 thousand units.

Sales of plug-in hybrid vehicles increased 173% year-on-year to about 27,000 last month, while electric vehicle sales totaled about 141,000, up 325.8% year-on-year.

The Association expects the growth of the country's automotive market to resume in 2021, given the accelerating recovery in demand for cars, robust economic growth and the great potential of the country's automotive market.

Author: wedocount

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