Foreign media: China's new energy vehicle production and sales are expected to reach 5 million this year

Singapore's Lianhe Zaobao website recently reported that the China Association of Automobile Manufacturers expects that the production and sales of new energy vehicles in China will reach 5 million in 2022, continuing to be the main force for market growth.

On April 11, the China Association of Automobile Manufacturers announced China's automobile production and sales data for the first quarter of 2022. In March this year, the national automobile production and sales reached 2.241 million and 2.234 million respectively, up 23.4% and 28.4% month-on-month, and down 9.1% and 11.7% year-on-year.

In the first quarter of this year, the national automobile production and sales reached 6.484 million and 6.509 million, an increase of 2.0% and 0.2% year-on-year, and the growth rate was 6.8 and 7.3 percentage points lower than the previous two months.

While the growth rate of the overall auto market declined, the new energy vehicle market continued to grow, with production and sales exceeding one million units in the first quarter, with a market share of 19.3%. The China Automobile Association predicts that the production and sales of new energy vehicles will reach 5 million in 2022, and will continue to be the main force for market growth.

Although the price of power battery raw materials and complete vehicles has risen, the production and sales performance of new energy vehicles is still significantly better than that of the entire automobile industry, maintaining rapid growth both month-on-month and year-on-year. According to data from the China Automobile Association, in March, the production and sales of new energy vehicles in China reached 465,000 and 484,000 respectively, an increase of 25.4% and 43.9% month-on-month, and a year-on-year increase of more than 110%, with a market share of 21.7%.

In the first quarter of this year, the national production and sales of new energy vehicles reached 1.293 million and 1.257 million, with a year-on-year increase of more than 140%, and a market share of 19.3%.

The China Automobile Association believes that the strategic leading role of China's new energy vehicles has been further highlighted. Among the main varieties of new energy vehicles, compared with the same period of the previous year, the production and sales of pure electric vehicles and plug-in hybrid vehicles continued to grow rapidly, and fuel cell vehicles continued to grow rapidly both month-on-month and year-on-year.