Both production and sales of passenger vehicles increased significantly in March from February as industries quickly turned to normal operations after the Chinese New Year holiday, the CPCA said.

China's new energy passenger vehicle sales rebounded significantly in March from the previous month, as production and sales returned to normal after the Chinese New Year holiday.

March wholesale sales of passenger NEVs are estimated at 820,000 units, up 33 percent year-on-year and up 84 percent from February, the China Passenger Car Association (CPCA) said in a report today.

In February, the nine manufacturers with wholesale sales of more than 10,000 passenger NEVs contributed 76.5 percent of all NEV wholesale sales, CPCA said.

The estimated sales of these carmakers in March are 630,000 units, and based on last month's structure, China's March wholesale sales of passenger NEVs will be at around 820,000 units, the CPCA said.

In China, NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs) and fuel cell vehicles. Their specific numbers are expected to be announced later this month.

February 10-17 was the 2024 Chinese New Year holiday. Last year's New Year's holiday was January 21-27, 2023.

Both production and sales of passenger vehicles increased significantly in March compared to February as industries quickly turned to normal operations following the New Year holiday, the CPCA noted.

Among major carmakers, BYD, Tesla China, and Changan were the top three wholesale sellers in March with 301,631, 89,064, and 52,900, respectively, according to CPCA.