The Chinese new car market is growing for the third month in a row - Ukrautoprom
Kyiv • UNN
In April, auto sales in China rose by 14.8%, marking the third consecutive month of growth. Demand for electric vehicles and hybrids increased by 33.9% due to a government subsidy program.
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.
The driver of demand was a government program that provides subsidies to buyers for exchanging old cars for new electric vehicles.
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.