China’s Car Sales Slow

A rundown of the news making headlines in and around China:

Car sales slow: China’s domestic car sales slowed in January, industry association data shows, falling by 2.1% to less than 2 million vehicles. However, traditional and new-energy vehicles (NEVs) saw wildly diverging trends, with the former’s sales declining some 15% to 1.16 million while NEV sales grew by more than a quarter to nearly 800,000. Meanwhile, exports recorded healthy 6.1% growth, reaching 470,000 vehicles. As with domestic sales, exports of traditional vehicles slowed 6.6%, while exports of NEVs surged nearly 50% to hit 150,000 vehicles. It’s been predicted that NEVs will make up 90% of China’s new car sales by 2035.