Gas-Powered Car Sales Crash While EVs Boom

What’s new: China’s auto sales slipped 11.7% in March — the first decline in three months — driven by a drop in gas-powered vehicle sales of 26.8% year-on-year.

Sales in the world’s largest car market totaled 2.23 million units last month, according to the China Association of Automobile Manufacturers (CAAM).

Meanwhile Covid continued to roil supply chains and push up input costs.

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