The Chinese new car market is growing for the third month in a row - Ukrautoprom

In April, auto sales in China grew for the third consecutive month, increasing by 14.8% compared to the previous year to 1.78 million units. This is reported by UNN with reference to Ukrautoprom.

Details

More than half (50.8%) of the cars sold during the month were electric vehicles and hybrids, known collectively as "NEV," demand for which increased by 33.9% year-on-year.

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The driver of demand was a government program that provides subsidies to buyers for exchanging old cars for new electric vehicles.

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Recall

Foreign automakers are losing ground in the Chinese market due to consumers switching to domestic electric vehicles. Volkswagen, Mercedes-Benz and other Western companies are facing declining sales, while Chinese brands are strengthening their positions.