China's EV-powered auto sales rebound, refreshing quarterly high

Growth comes amid price war and growing global concerns over export glut

20240410 china ev

A BYD Qin electric car rolls through Beijing in October 2023. © Reuters

CK TAN, Nikkei staff writer

SHANGHAI -- China's vehicle sales rebounded in March, pushing first-quarter shipments to a new post-pandemic high, an industry group said on Wednesday.

Total vehicle sales in the month grew by 9.9% on the year to 2.69 million, according to the China Association of Automobile Manufacturers (CAAM). That reversed a 19.9% slump in February, which was mainly chalked up to the seasonal effect of the weeklong Lunar New Year holiday.

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