Figures from the China Passenger Car Association (CPCA) showed that in December retail sales of passenger cars increased by 3% per annum, reaching 2.17 million units. December was the last month of state support for car buyers, which included subsidies for electric vehicles and tax cuts for mid range car purchases.
Meanwhile, from January to December 2022, sales increased by only 1.9% per annum, to 20.5 million units, against the background of strict coronavirus restrictions that negatively affected car production and consumer demand.
CPCA also stated that for the whole year retail sales of new-energy cars, which includes all-electric vehicles and plug-in hybrids, grew by almost 100%, reaching a new record high (almost 5.67 million units). In December, retail sales of new-energy cars increased by 35%, to 0.64 million units.
Separate data showed that total car production fell by 15% per annum in December, but increased by 11.6% per annum from January to December 2022.