China’s passenger car sales decline 17.7% YoY in Jan

SHANGHAI, Feb 19 (SMM) – Sales of passenger cars in China fell for a seventh straight month to stand at 2.02 million units in January, down 17.7% from a year earlier, the largest monthly, year-on-year decline in seven years, the China Association of Automobile Manufacturers (CAAM) said on Monday February 18.

In January, 2.37 million automobiles were sold across the nation, down 15.8% year on year.

New energy vehicles (NEVs) continued its strong performance last month. CAAM data showed that China's sales of NEVs came in at some 96,000 units in January, up 138% from a year ago.