The Chinese economy rebounded by over 18% in the first quarter of the year after shrinking by 6.8% a year earlier, with strong domestic and overseas demand driving a sharp rise in industrial output.
The country’s vehicle market has now rebounded beyond pre-pandemic levels, driven by pent-up demand and low interest rates. The association said 8.39m people in the country were given new driver’s licences in the first quarter.
Sales of domestic-branded passenger vehicles rose by 24% to 590,000 units last month, while sales of luxury brands rose by 30% to 250,000 units.
Deliveries of new energy vehicles jumped by 214% to 184,000 units to account for more than 11% of the market.
The CPCA said China exported 107,000 passenger vehicles in April, a 146% rise on last year, with completely built up (CBU) vehicle exports jumping by 169% to around 80,000 units.
New energy vehicles accounted for 16% of these, including 14,174 Tesla models and 2,378 units by SAIC Motor.
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By GlobalDataIn the first four months of 2021 passenger vehicle sales were up by close to 51% at 6.7m units from weak year-earlier volumes, while exports increased by 83% to 585,000 units.
