(ECNS) -- China's passenger vehicle exports reached 928,000 in October, up 68.5% year on year and 1% month on month, according to data released by the China Passenger Car Association on Monday.
New energy passenger vehicle exports totaled 582,000, up 144.7% year on year and 3.9% month on month. They accounted for 62.8% of total passenger vehicle exports, up 20 percentage points from a year earlier.
In the domestic market, passenger vehicle retail sales totaled 1.643 million units in October, down 27.1% year on year but up 1.5% month on month. New energy passenger vehicle retail sales reached 1.109 million units, down 13.7% year on year but up 2.3% month on month.
New energy vehicles accounted for 67.5% of domestic passenger vehicle retail sales, a record high. The share was up 10.5 percentage points from a year earlier and 0.5 percentage points from September. Fuel vehicle retail sales fell 45% year on year.
A representative of the association said the gap between the two segments continued to widen in October, with fuel vehicle sales falling and new energy vehicle sales holding up better. High oil prices continued to accelerate the shift to electric vehicles. The retail share of new energy vehicles continued to rise in October, bucking the seasonal trend of leveling off in autumn.
The representative also said strong exports helped automakers offset a decline in domestic retail sales. As China's new energy vehicle manufacturers expand overseas, their products are gaining recognition in foreign markets.
(By Tang Yuxian)
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