BEIJING (XINHUA) – Sales of passenger vehicles from Chinese brands surged 23.1 per cent year-on-year in 2021, data from an industry association shows.
More than 9.54 million passenger cars from Chinese brands were sold last year, nearing a record-high market share, according to the China Association of Automobile Manufacturers.
The association attributed the surge to factors including the development of the new energy vehicle sector and improved export market.
The annual export of Chinese automobiles exceeded two million units for the first time in 2021, double the annual figure for recent years, according to the association.
Last year, sales of passenger vehicles in China went up 6.5 per cent year on year to 21.48 million units, including 3.52 million new energy vehicles (NEVs). Sales of NEVs surged approximately 160 per cent year-on-year.