China records a 75% growth in auto sales in March
Updated: Apr 14
This was the 12th consecutive month of growth. China’s auto industry recorded a 12th consecutive month of growth in sales. Sales numbers achieved were 2.53 million vehicles in March, up 74.9%, year on year data shared by the China Association of Automobile Manufacturers (CAAM).
Sales of new energy vehicles (NEVs): battery-powered EVs, plug-in petrol hybrids, and hydrogen fuel-cell vehicles, registered an increase of 239% in March. They clocked 2,26,000 units.
NEV majors, Nio Inc, Xpeng Inc, and even Tesla Inc, are now expanding their capacities as China promotes greener technologies, to cut pollution.
China Passenger Car Association reported that Tesla had sold 35,478 China-made Cars in march. However, the chip shortage could have a bigger and more adverse impact in China, in the second quarter than what was felt in the first.