New-energy vehicles in a factory in Jinzhong, North China's Shanxi Province on September 7, 2022 Photo: VCG

China's auto output and sales saw 15.3 percent and 9.7 percent of year-on-year increase in March 2023, data from China Association of Automobile Manufacturers (CAAM) showed, while exports maintaining strong momentum with a 110-percent growth year-on-year. 

In March, China's auto output and sales reached 2.58 million and 2.45 million, respectively, CAAM data revealed.

In general, market data in the first quarter took a plunge as auto output volume hit 6.21 million, down 4.3 percent year-on-year, and the sales hit 6.08 million, down 6.7 percent year-on-year.

CAAM said domestic demand for vehicles has not been fully released yet and the industry growth should be aligned with realistic expectations.

New-energy vehicles (NEVs) industry maintained its rapid growth. The monthly output volume and sales of new-energy vehicle reached 674,000 and 653,000 in March, up 44.8 percent and 34.8 percent year-on-year. The first quarter output volume and sales of NEVs in 2023 hit 1.65 million, up 27.7 percent year-on-year, and 1.59 million, up 26.2 percent year-on-year. 

Besides, China's auto exports maintained the strong momentum in March with export volume reaching 364,000, up 10.6 percent of month-on-month and 110 percent of year-on-year. Overall auto exports in first quarter of 2023 reached 994,000, up 70.6 percent year-on-year, according to CAAM.

The exports of NEVs in March stood at 78,000, increasing by 3.9 times over 2022 levels, while general exports in January to March stood at 248,000, increasing by 110 percent year-on-year. 

Global Times