China's vehicle sales surge 47.9% year on year in January 2024

China's vehicle

China's vehicle sales surged 47.9 percent year on year in January 2024 to nearly 2.44 million units, according to the China Association of Automobile Manufacturers on Wednesday.

Xinhua News Agency quoted the association as saying that the country's vehicle output last month increased by 51.2 percent year on year to 2.41 million units.

Specifically, passenger car output and sales stood at 2.08 million units and 2.12 million units, up 49.1 percent and 44 percent year on year, respectively, according to data released by the association.

Commercial vehicle output rose by 66.2 percent year on year to 327,000 units, while commercial vehicle sales soared 79.6 percent year on year to 324,000 units.

The new energy vehicle (NEV) industry experienced significant growth last month. The nation's NEV production reached 787,000 units, showing an increase of 85.3 percent compared to the previous year. Additionally, NEV sales saw a rise of 78.8 percent, reaching 729,000 units compared to the previous year.

Among them, all-electric vehicle production and sales reached 489,000 and 445,000 units, respectively, with yearly growth rates of 63.9 percent and 55.1 percent.

Total vehicle exports amounted to 443,000 units in January, an increase of 47.4 percent year on year. NEV exports rose 21.7 percent year on year last month to reach 101,000 units, the data revealed.