The latest data released by the China Association of Automobile Manufacturers on the 11th shows that the production and sales of new energy vehicles in China continued to achieve high growth from January to October this year. Among them, in October, the monthly new car sales of new energy vehicles exceeded 50% of the total new car sales for the first time.

The latest data shows that from January to October this year, China's automobile production and sales volume reached 27.692 million and 27.687 million respectively, with a year-on-year growth of over 10%. Among them, the production and sales of new energy vehicles reached 13.015 million and 12.943 million respectively, an increase of 33.1% and 32.7% year-on-year. It is worth noting that in October, the monthly new car sales of new energy vehicles exceeded 50% of the total new car sales for the first time, reaching 51.6%. In terms of exports, from January to October this year, the export of new energy vehicles was 2.014 million units, a year-on-year increase of 90.4%.

Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, said that since this year, new energy vehicles have continued to achieve a high growth. On the one hand, the domestic car trade in subsidy policy has continued to be effective, powerful, and has benefited a wide range of people, promoting the high growth of the new energy vehicle market. On the other hand, the halving of the purchase tax on new energy vehicles next year has led to some consumers buying cars in advance, ushering in a new round of consumption peak in the new energy vehicle market.

Experts also stated that since the beginning of this year, the continuous enrichment of new product supply, continuous upgrading of product technology, and continuous improvement of energy replenishment systems by Chinese new energy vehicle companies have also jointly promoted the high growth of the new energy vehicle market.