Chinese Electric Car Sales Outpacing Competitors

Data released by the China Passenger Car Association showed that sales of passenger cars powered by new energy accounted for approximately two-thirds of the global total last year, according to the Chinese news agency “Xinhua.”

Tsu Wei Dongshu, the general secretary of the association, said: “Approximately 8.87 million units of such vehicles were sold in the Chinese market during 2023, an increase of 37% from the previous year, accounting for 63.5% of global sales.”

The rate of new energy vehicles in China, or the percentage of new energy vehicles in total car sales, has increased to nearly 30% in the past year.

The market for new energy vehicles in China has witnessed strong expansion in recent years, thanks to the country’s accelerated efforts to promote green development and rapid growth in the automobile market.

Electric passenger cars accounted for 69% of sales in the country in 2023, while plug-in hybrid cars made up 31%.

Tsui added that Chinese new energy vehicles have experienced strong sales growth both in the domestic market and in exports, due to the significant popularity they are gaining in the Southeast Asian and European markets.

Earlier data showed a 77.6% increase in China’s exports of new energy vehicles last year on an annual basis, reaching 1.2 million units.