Passenger Car Association: Passenger car retail sales reached 1.69 million units in March, BYD ranked first

The Passenger Car Association today released a retail sales report for March 2024. Data shows that retail sales in the domestic narrow passenger car market reached 1.69 million units in March, a year-on-year increase of 6.2% and a month-on-month increase of 53.1%. Cumulative sales from January to March were 4.832 million vehicles, a year-on-year increase of 13.2%.

According to the Passenger Car Association, an important reason for the high growth in March both year-on-year and month-on-month was the post-holiday consumption recovery brought about by the Spring Festival. The price war heated up rapidly after the Spring Festival, which resulted in an obvious consumer wait-and-see phenomenon. Coupled with attention to some new cars and expectations for the trade-in policy, the auto market showed a slow start in March.

With the launch of Xiaomi SU7 and the further adjustment of the prices of a new round of related models, coupled with the intensive release of new models in April, the market's consumer enthusiasm will gradually be stimulated.

The sales volume of various categories in March was 780,000 cars, a year-on-year increase of 2.4% and a month-on-month increase of 56.1%.

MPV sales reached 94,000 units, a year-on-year decrease of 5.6% and a month-on-month increase of 78.0%.

SUVs totaled 816,000 units, a year-on-year increase of 11.8% and a month-on-month increase of 48.1%.

The number of new energy vehicles was 712,000, a year-on-year increase of 30.1% and a month-on-month increase of 83.3%.

The sales volume of various categories from January to March was 2.186 million cars, a year-on-year increase of 8.0%.

MPV sales reached 239,000 units, a year-on-year decrease of 1.8%.

SUV sales reached 2.407 million units, a year-on-year increase of 20.3%.

The number of new energy vehicles was 1.772 million, a year-on-year increase of 34.5%.

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