China's automobile output, sales grow rapidly in April

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China's automobile output, sales grow rapidly in April

2024-05-13 14:27 Last Updated At：15:27

The production and sales of automobiles in China saw a rapid growth in April, the latest data from the China Association of Automobile Manufacturers (CAAM) showed on Saturday.

In April, the production of automobiles in China reached 2.406 million units in total, rising 12.8 percent in year-on-year terms. Their sales increased 9.3 percent to 2.359 million units.

Specifically, new energy vehicle (NEV) production hit 870,000 units and their sales reached 850,000 units, up by 35.9 percent and 33.5 percent respectively year on year.

This growth propelled the market share of NEVs to a notable 36 percent in April.

In addition, the sales of Chinese-brand passenger vehicles reached 1.272 million units, taking up 63.5 percent of the total sales volume. Their market share increased by 8.4 percentage points compared with the same period in 2023.

"In the first four months of 2024, the market share of domestic-brand passenger vehicles surpassed 60 percent. The figure was 63.5 percent in April, continuing the growth momentum of recent years. Currently, China's NEV industry has realized the shift from focusing on quantity to quality, with its development speed beyond previous expectations," said Chen Shihua, deputy secretary general of the CAAM.

Britain's CPI up to 3.3 pct in March amid fuel price rises

Britain's consumer price index (CPI) rose by 3.3 percent year on year in March, up from those recorded in January and February as the Middle East conflict has led to motor fuel price hikes, data from the Office for National Statistics (ONS) showed on Wednesday.

The country's inflation rate stood at three percent both in January and February 2026. On a monthly basis, CPI rose by 0.7 percent in March, compared with a rise of only 0.3 percent one year ago, according to the ONS.

It said motor fuels made the largest upward contribution to the change in CPI annual rates.

The overall motor fuel prices surged by 4.9 percent year on year in March, making a sharp contrast to a fall of 4.6 percent year on year in February, and hitting the highest level recorded since January 2023.

Britain's core CPI (CPI excluding energy, food, alcohol and tobacco) increased by 3.1 percent year on year in March, down from 3.2 percent registered in February, the data also showed.