China’s auto sales increased 0.9 percent in January

China’s auto sales in January increased 0.9 percent year on year to 2.53 million units, according to the information provided by the China Association of Automobile Manufacturers (CAAM).

Monthly, the sales dropped by 9.2 percent, according to the data.

Last month’s auto production increased 1.4 percent year on year to 2.42 million units.

Sales of passenger vehicles in January increased 6.7 percent year on year to 2.19 million units.

Sales of new energy vehicles (NEVs) have shown improvement in January, increasing 140 percent from the same period last year to about 431,000 units, the CAAM data noted.

China intends to increase the proportion of NEVs in its sales of new vehicles to 20 percent by 2025.

Last year, the auto sales in the country increased 3.8 percent year on year to 26.28 million units, ending a downward trend that started in 2018.