Sales of light passenger vehicles in China rose by just 1.5% to 24.2 million units last year, according to data released by the China Passenger Car Association (CPCA).
This is the slowest rate of growth in many years, with December sales rising by just 0.6% year-on-year to 2.8 million units – supported mainly by an 11% rise in new energy vehicle sales to around 100,000 units.
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The association expects market growth to gain momentum in 2018, to around 4%, with the new-energy vehicle segment continuing to drive volumes higher.
Total vehicle sales, including commercial vehicles, are estimated to be close to 29 million units last year, based on data compiled by the China Association of Automobile Manufacturers (CAAM).
CAAM is expected to release the full-year data in the next few days.
General Motor’s local joint ventures sold a total of 4.04 million vehicles last year, up 7.1% on 2016, while Nissan” sales rose by over 12% to 1.52m units, Honda 1.44 million (+15.5%) and Toyota 1.29 million (+6.3%).
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