China’s wholesale sales of new energy vehicles rose modestly in March as record exports helped offset a sharp decline in domestic demand, data from the China Association of Automobile Manufacturers showed on Friday.
Wholesale NEV deliveries, including domestic sales and exports, totaled 1.252 million units in March, up 1.2% from a year earlier and 63.7% from February, according to CAAM.
The increase lifted NEVs’ share of total new vehicle sales in China to 43.2% in March from 42.4% in February.
Domestic NEV sales fell 18.3% from a year earlier to 882,000 units, despite rebounding 82.4% from the previous month, indicating continued weakness in China’s home market.
Exports remained the main growth driver, with overseas NEV shipments reaching a record 371,000 units in March, up 130% year-on-year and 31.6% from February.
China’s overall vehicle wholesale deliveries totaled 2.899 million units in March, down 0.6% from a year earlier but up 60.6% month-on-month, while total vehicle exports rose 72.7% to 875,000 units.
Battery electric vehicle wholesale sales increased 3.2% year-on-year to 831,000 units in March, while BEV exports climbed 110% to 217,000 units, CAAM data showed.
Plug-in hybrid vehicle sales declined 2.3% from a year earlier to 421,000 units, though exports in the segment jumped 180% to 153,000 units.
The March figures highlight Chinese automakers’ growing reliance on overseas markets as domestic competition intensifies and demand growth slows in the world’s largest auto market.