China auto sales surged to 850,000 vehicles in March

Monday, China Automobile Industry Association released data showing automobile production and sales saw a rapid growth in March, both exceeded more than 800,000 vehicles, total automobile sales reached 847,200 vehicles, an increase of 52.2% over February.

Data showed that passenger car sales in March were 567,000 vehicles, a large growth from that of the previous month, a growth rate of 16% year on year. The output of MPV and SUV models declined a little bit compared to the same period last year. MPV output and sales in March were 24,100 vehicles and 21,100 vehicles, grew 24.99% in output, sales declined 1.31% compared to last year. SUV output and sales in March were 25,500 vehicles and 29,300 vehicles, output grew 13.34%, but sales fell 9.46%. An insider believes it is mainly for the impact of increasing costs, which diminished the number of MPV and SUV consumers.

Earlier this year, the State Information Center estimated, auto sales this year will exceed 8 million. Automobile output and sales in the first quarter of the year reached 2.1928 million and 2.1237 million units, so 8 million is expected to be completed this year for sure.