Chinese-brand passenger vehicle sales surged in January 2024, according to industry data released by the China Association of Automobile Manufacturers.
The report indicated a remarkable 68.6% increase in sales compared to the previous year. A staggering 1.28 million domestic-brand passenger vehicles were sold last month, contributing significantly to the market.
The data further revealed that the market share of Chinese-brand vehicles reached 60.4%, marking an increase of 8.8 percentage points from the same period in the previous year.
In addition to the surge in Chinese-brand vehicle sales, the overall passenger car sales in China reached 2.12 million units in January, reflecting a substantial 44% year-on-year increase.
