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China's car sales growth speeds up New energy vehicle growth

"From January to March this year, the year-on-year decline in China's auto output narrowed slightly from January to February, and sales growth has increased. Among them, China's new energy vehicles showed rapid growth year-on-year.

From January to March, China's auto production and sales reached 7.202 million units and 7.183 million units, respectively. The output decreased by 1.4% year-on-year, and sales volume increased by 2.8% year-on-year. The overall performance was still good.

In the same period, the production and sales of new energy vehicles in China were completed by 150,000 and 143,000 vehicles, respectively, an increase of 156.9% and 154.3% respectively year-on-year. Among them, the production and sales of plug-in hybrid vehicles increased 305.3% and 242.6% year-on-year respectively.

According to briefings, as of March 2018, members of the China Electric Vehicle Charging Infrastructure Promotion Coalition reported a total of 253,074 public charging poles. In March 2018, 9051 public charging poles were added in February of 2018. From April 2017 to March 2018, the monthly average public class charging piles were approximately 8074, and in March 2018 the public class charging piles increased by 62.0% year-on-year.

In addition, from January to March, Chinese auto companies exported 225,000 vehicles, a year-on-year increase of 26.1%. During this period, passenger car exports increased by 30.9% year-on-year.

It is worth mentioning that in March of this year, China’s auto exports increased by 60.7% on a month-on-month basis, maintaining a rapid growth.