China's annual auto sales climb for first time since 2017

# 13 January 2022 12:42 (UTC +04:00)

China’s auto sales last year grew for the first time since 2017, industry data showed on Wednesday, January 12, boosted partly by a jump of 1.5 times in sales of new energy vehicles (NEVs), APA-Economics reports citing Rappler.

Overall sales in the world’s biggest car market rose 3.8% year-on-year, after monthly sales of 2.79 million vehicles in December brought total sales for 2021 to 26.28 million, data from the China Association of Automobile Manufacturers (CAAM) showed.

Production and sales are expected to be better in 2022 than last year on the prospect that issues such as chip shortage and high prices of raw materials ease, CAAM said in a statement.