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Investing.com -- China’s automobile market experienced a 12% decline in car sales in January compared to the same month a year earlier. This is the first drop since September and the most significant one in nearly a year. The dip in sales comes as auto manufacturers prepare for heightened competition in the world’s largest car market.
The first couple of months of the year typically see significant fluctuations in passenger vehicle sales due to the shifting timing of the Lunar New Year. This year, the Lunar New Year began in January, whereas last year it started in February.
Sales of new energy vehicles, including electric vehicles and plug-in hybrids, increased by 10.5% year on year, making up 41.2% of total sales. This is the second consecutive month that new energy vehicles have not outsold gasoline cars, according to data from the China Passenger Car Association (CPCA), released on Tuesday.
For the entirety of 2025, new energy vehicle sales are projected to make up 57% of total car sales, a rise from 47% in the previous year.
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