Car sales in China grew by almost 73% in 1Q21

A total of more than 6.34 million cars were sold in China in January-March 2021, which is 72.8 percent more than in the first quarter of last year, according to the report of the China Association of Automobile Manufacturers published April 8, Report informs.

During the specified period, sales of commercial vehicles increased by 71.2 percent in annual terms, and passenger cars - by 74.1 percent. For March this year, 2.38 million cars assembled in China were sold on the market, which is 64 percent more than in February. The growth of this indicator in annual terms amounted to 66.8 percent.

According to official figures, in 2020, a total of 25.31 million vehicles were sold in China, which is 1.9 percent less than in 2019. Last year, 25.23 million vehicles were assembled in the local market. The decline in this indicator was within 2 percent.

In 2021, according to the association’s forecasts, sales should grow by 4 percent and exceed 26 million vehicles.