Automotive Industry Booms in Q1 with NEV Sales Surging to 41.2% of Total

The automotive industry had a good start in Q1, with NEV sales accounting for 41.2% of total sales.

The latest information released by CAAM today (11th) shows that since the beginning of this year, a series of policies and measures to boost consumption have been accelerated, leading to an improvement in the consumer market and a good start for the automotive industry. In Q1, China's auto production and sales reached 7.561 million units and 7.47 million units, up 14.5% and 11.2% YoY, respectively. Among them, NEV production and sales reached 3.182 million units and 3.075 million units, up 50.4% and 47.1% YoY, respectively, with NEV sales accounting for 41.2% of total auto sales. Vehicle exports continued to grow, with increasing overseas influence, among which NEV exports reached 441,000 units, up 43.9% YoY.