BEIJING: The production and sales of automobiles in China saw a rapid growth in April, the latest data from the China Association of Automobile Manufacturers (CAAM) showed on Saturday.
According to China Global Television Network, automobile production in China surged to a total of 2.406 million units in April, marking a 12.8 percent increase compared to the previous year. Concurrently, sales also saw a notable rise, climbing by 9.3 percent to reach 2.359 million units.
Specifically, new energy vehicle (NEV) production hit 870,000 units and their sales reached 850,000 units, up by 35.9 percent and 33.5 percent respectively year-on-year.
This growth propelled the market share of NEVs to a notable 36 percent in April.
In addition, the sales of Chinese-brand passenger vehicles reached 1.272 million units, taking up 63.5 percent of the total sales volume. Their market share increased by 8.4 percentage points compared with the same period in 2023.
“In the first four months of 2024, the market share of domesti
c-brand passenger vehicles surpassed 60 percent. The figure was 63.5 percent in April, continuing the growth momentum of recent years. Currently, China’s NEV industry has realized the shift from focusing on quantity to quality, with its development speed beyond previous expectations,” said Chen Shihua, Deputy Secretary-General of the CAAM.
Source: Emirates News Agency