Passenger vehicle sales in China surged 14% year over year to about 1.94 million units in March, Yicai Global reported Thursday, citing the China Passenger Car Association.
The yearly increase was the highest since the 1.98 million units sold in March 2018, the report said.
New energy vehicle sales increased 38% year over year to more than 990,000 units, while NEV adoption topped 50%, the report said.
China's biggest local automakers include Dongfeng Motor Group (HKG:0489), SAIC Motor (SHA:600104), Chongqing Changan Automobile (SHE:000625), BAIC Motor (HKG:1958), Guangzhou Automobile Group (SHA:601238, HKG:2238), Great Wall Motors (SHA:601633, HKG:2333) and FAW Group (SHE:000800).
Top new-energy vehicle manufacturers include BYD (SHE:002594, HKG:1211), Li Auto (HKG:2015), XPeng (HKG:9868) and NIO (HKG:9866, SGX:NIO).
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