(Yicai Global) May 11 -- China's auto sales in the first four months of this year logged the fastest growth since records began in 2005, largely on the back of a big leap in demand for new energy vehicle and luxury cars as well as due to the low base last year when the Covid-19 pandemic hammered sales, according to the latest data.

Passenger vehicle sales surged 50.7 percent in the four months ended April 30 to 6.7 million units, the China Passenger Car Association said today. Last year during the pandemic sales fell 32.7 percent year on year over the period.

In April alone 1.6 million cars were sold, a gain of 12.4 percent from the same month in 2020 and up 6.5 percent from 2019, the report said.

Electric vehicle sales in April nearly tripled from a year ago to 163,000 autos, although this was a 12 percent fall from the previous month, the report said. Leading manufacturers Tesla, SAIC Motor, BYD and SAIC-GM-Wuling all shipped more than 10,000 NEVs that month.

Luxury vehicle sales also did well, jumping 30 percent between January and April year-on-year to 250,000 units, as improved spending levels and car trade-in promotions helped drive demand for expensive cars.

Sales of domestic auto marques increased 24 percent in the first four months to 590,000 vehicles. While joint venture brands only increased by 2 percent to 770,000 vehicles.

Exports of NEVs surged in April, demonstrating the growing international acceptance of China’s electric cars. Tesla China exported 14,174 units, SAIC 2,374 and startup Aiways 335.

Chinese carmakers need to accelerate entry into Europe’s new energy car market now before California-based Tesla sets up its own factories in the region, said Cui Dongshu, secretary general of CPCA. In a relatively stable political and economic environment, the European market presents great potential as NEVs become more accepted and charging facilities increasingly complete.

May’s figures could be hampered by the ongoing global chip shortage that is affecting manufacturers’ production schedules, the CPCA said.

Editor: Kim Taylor