Sales of passenger vehicles in China rose by 7.1% to 2.27m units in January from 2.12m units a year earlier, according to the China Passenger Car Association (CPCA).
The data did not include sales of commercial vehicles which are covered in a separate report released later in the month by the China Association of Automobile Manufacturers.
Go deeper with GlobalData
According to the CPCA data, passenger vehicle sales have picked up momentum since last year despite excise taxes on small cars returning to their normal rate of 10% at the beginning of the year from the discounted rate of 7.5% in 2017 and 5% in 2016.
Passenger vehicle sales increased by just 0.6% to 2.8m units in December and by 1.5% to 24.2m units in the whole of 2017.
The association also said around 30,000 new energy passenger vehicles were sold last month, a fourfold increase on a year earlier.
The CPCA also said it expected the overall passenger vehicle market to grow by around 4% this year to around 25.2m units.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
