China's auto manufacturing industry logs steady expansion in Q1-Xinhua

China's auto manufacturing industry logs steady expansion in Q1

Source: Xinhua

Editor: huaxia

2023-05-13 18:58:15

Staff members assemble new energy vehicles on the assembly line of BYD auto plant in Xi'an, northwest China's Shaanxi Province, April 20, 2022. (Xinhua/Liu Xiao)

BEIJING, May 13 (Xinhua) -- China's automobile manufacturing sector reported stable output and revenue growth in the first quarter (Q1) of this year, data from the China Association of Automobile Manufacturers showed.

The industrial added value of the sector rose 4.4 percent year on year in the period, up 5.4 percentage points from the first two months and 1.5 percentage points higher than the whole manufacturing industry in the same period, according to the association.

In March alone, the sector's industrial added value jumped 13.5 percent year on year, the data revealed.

During the first three months of 2023, the combined operating revenue of companies in the sector topped 2.14 trillion yuan (about 308 billion U.S. dollars), up 1.3 percent year on year. The pace was 2.6 percentage points faster than that of the overall manufacturing industry. 


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