Chinese-brand passenger car sales soar 24.1% in 2023

Chinese-brand passenger vehicle sales jumped 24.1 percent year on year in 2023 to 14.6 million units, industry data shows.

The market share of such vehicles hit 56 percent last year, 6.1 percentage points higher than in 2022, according to the China Association of Automobile Manufacturers.

The market share of new energy products among domestic-brand passenger vehicles stood at 49.9 percent, according to the association.

China's auto sales surged 12 percent year on year to top 30.09 million units last year. The sales of new energy vehicles exceeded 9.49 million units, surging 37.9 percent year on year, earlier data shows.