China's auto sector gains momentum as NEVs dominate sales share

China’s production and sales of new energy vehicles (NEVs) recorded year-on-year growth in April, according to industry data released on Monday, News.Az reports, citing Xinhua.

NEV output rose 5.5 percent year on year to 1.32 million units, while sales increased 9.7 percent to 1.34 million units, the China Association of Automobile Manufacturers (CAAM) reported.

NEVs accounted for 53.2 percent of total new car sales in April, the data showed.

In the first four months of the year, China’s total auto production and sales reached 9.61 million and 9.57 million units, respectively. During the same period, NEV production and sales stood at 4.29 million and 4.3 million units.

Vehicle exports also saw strong growth, surging 61.5 percent year on year to 3.13 million units in the January–April period. NEV exports rose even more sharply, jumping 120 percent to 1.38 million units.

CAAM deputy secretary-general Chen Shihua said that while auto production and sales edged down slightly year on year in April, the cumulative decline in the first four months has continued to narrow.

He added that recent policy measures have sent positive signals that are expected to support domestic auto demand, strengthen foreign trade advantages, and promote stable, high-quality development in the sector.

News.Az 

By Nijat Babayev