Auto sales rose 2.1 percent year on year to 26.86 million units in the world’s largest automobile market in 2022, data from the China Association of Automobile Manufacturers showed Thursday.
In December alone, the country’s auto sales totaled approximately 2.56 million units, down 8.4 percent from a year earlier but up 9.7 percent on a monthly basis, the data showed.
NEV market posted another stellar performance last year, driven by rising market demand and a sound policy environment.
China sold about 6.89 million NEVs in 2022, skyrocketing 93.4 percent year on year. NEV production soared 96.9 percent from a year earlier to about 7.06 million units.
Thanks to the NEV boom, the market share of NEVs in China’s auto market reached 25.6 percent in 2022, up 12.1 percentage points from 2021.
China halved the purchase tax for eligible passenger vehicles last year, as part of a string of supportive measures to spur auto