China's NEV Sales Surge In First Nine Months

Sales of new energy vehicles (NEVs) in China surged in the past three quarters of the year as the country's economy sustained stable growth momentum, data from the China Association of Automobile Manufacturers (CAAM) showed Tuesday

BEIJING, (UrduPoint / Pakistan Point News - 13th Oct, 2021 ) :Sales of new energy vehicles (NEVs) in China surged in the past three quarters of the year as the country's economy sustained stable growth momentum, data from the China Association of automobile Manufacturers (CAAM) showed Tuesday.

In the January-September period, NEV sales amounted to about 2.16 million units, up 190 percent year on year, the CAAM data showed.

In September alone, NEV production and sales reached approximately 353,000 and 357,000 units, respectively, both logging a year-on-year growth of 150 percent, the CAAM data showed.

The output and sales of NEVs in September both set new monthly records, the association said.

The NEV market penetration rate remained at 17.3 percent last month, with the penetration rate of NEV passenger vehicles reaching 19.5 percent, said the CAAM.