Apr 12, 2021 (China Knowledge) - China Association of Automobile Manufacturers’ (CAAM) recent data shows China's auto sales in March surged by 74.9% YoY to 2.53 mln units.
In the Jan-Mar period, the country's auto sales rose by 75.6% YoY to 6.48 mln units, according to the CAAM.
In the first three months, sales of passenger vehicles climbed by 75.1% YoY to 5.08 mln units. While in March alone, sales of passenger vehicles increased by 77.4% YoY to 1.87 mln units, while the figure for new energy vehicles (NEVs) surged by 238.9% to 226,000 units.
CAAM also noted that the chip shortage will have a greater negative impact on China's automobile production in the second quarter than in the first quarter.
According to this year’s government work report, China in 2021 aims to expand its economy by over 6% and will expand consumption. The country will encourage steady increases in spending on automobiles among other big-ticket items amid efforts to fully tap domestic market potential and expand domestic demand.
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