New energy commercial vehicles (NECVs), comprising mainly hydrogen, electric and plug-in hybrid vehicles, increased by 32% to 447,000 units.

The CV market in China continued to recover in June 2023, with sales rebounding by more than 26% from weak year-earlier sales, according to wholesale data released by the China Association of Automobile Manufacturers (CAAM). As we report this news, August 9, saw many leading newspapers around the world announce that the Chinese economy, the second largest in the world, had dipped into deflation, as the economy slowed.

Overall, in the first quarter 2023, the CV market in China fell by 3%.

Sales of new commercial vehicle in China rebounded by over 29% to 324,000 units in February 2023 from 250,000 units in the same month of last year, reports CAAM.