In March of this year, China's automobile sector witnessed a notable upswing, with production and sales surging by 74.4% and 60.6% month-on-month (MoM), respectively. The export performance, in particular, exceeded expectations, with a total of 875,000 vehicles shipped overseas, marking a 30.2% MoM and a substantial 72.7% year-on-year (YoY) increase. Among these exports, 371,000 were new energy vehicles (NEVs), reflecting a remarkable 1.3-fold YoY growth.

From January to March, the cumulative automobile exports reached 2.226 million units, up by 56.7% YoY. Meanwhile, NEV exports soared to 954,000 units, showcasing a 1.2-fold YoY rise. Chen Shihua, Deputy Secretary-General of the China Association of Automobile Manufacturers (CAAM), attributed the rapid growth in automobile exports to a confluence of favorable factors, with NEVs emerging as the pivotal driving force. He emphasized that a comprehensive and efficient industrial chain has bolstered the international competitiveness of Chinese automotive products, underscoring the ongoing transformation, upgrading, and enhanced overall strength of China's automobile industry.