Shanghai (ZXZC)- China auto outputs and sales reached 2.388 million and 2.503 million units respectively in Jan. 2021, leaping 34.6% and 29.5% from a year earlier, and showing year-on-year growth for the tenth month in a row, according to the China Association of Automobile Manufacturers (CAAM).

The substantial year-on-year increase mainly flew from the rising market demands and the relatively low base for the prior-year period led by the Chinese New Year Holiday and the impact of coronavirus pandemic, said the CAAM.

Nevertheless, compared to Dec. 2020, China's auto industry posted a 15.9% and 11.6% decrease in Jan. production and sales volumes respectively, reflecting the influence from chip shortage.

In Jan., PV sales in China jumped 26.8% over a year earlier to 2.045 million units. The car, the SUV and the MPV segments all logged double-digit growth year on year, while they all faced decrease from the previous month.

Last month, the CV outputs and sales shot up 44.3% and 43.1% from the previous year respectively. Thanks to the robust demands of trucks, the monthly CV sales hit the record-breaking number for ten consecutive months as of Jan. 2021.

New Energy vehicle (NEV) wholesale in China surged 238.5% over a year ago to around 179,000 units in Jan., marking the seventh consecutive month of record-breaking numbers.

Among the NEVs sold last month, 151,000 units were full-electric vehicles, a 287.8% precipitous rise over the previous year. Moreover, plug-in hybrid electric vehicle (PHEV) sales zoomed up 104.7% to roughly 29,000 units, while fuel cell vehicle (FCV) sales reached 63 units (-63.2% YoY).