China’s new energy vehicle (NEV) sales expanded 34.8 percent year on year to about 653,000 units in March, data from the China Association of Automobile Manufacturers showed Tuesday.
NEV sales in the first quarter totaled nearly 1.59 million units, increasing by 26.2 percent from a year ago.
In the first three months, the market share of NEVs in China’s auto market reached 26.1 percent.
In February, China pledged to roll out policies to support the purchase of NEVs, saying that measures will be taken to improve the NEV user experience from charging to license plate registration.
The output of NEVs in the country reached 674,000 units last month, up 44.8 percent year on year.
Thanks to the NEV boom and the rapid growth in auto export, industry insiders are bullish on China’s auto sector in 2023, said Chen Shihua, deputy secretary-general of the association
