Long-term vision of auto segment in focus

Dwindling demand: An employee checks vehicles at a Wuling Motors factory in Qingdao. Sales of electric vehicles and plug-in hybrids in China fell 6.% year-on-year in January. — AFP

BEIJING: Auto executives have submitted proposals to promote the development of the industry during this year’s sessions of the National People’s Congress and the National Committee of the Chinese People’s Political Consultative Conference.

New energy vehicle (NEV) subsidies ended on Dec 31,2022, which resulted in a lackluster start for the market this year. According to the China Association of Automobile Manufacturers (CAAM), sales of electric vehicles and plug-in hybrids fell 6.% year-on-year to 408,000 units in January. The decline marked the end of a 30-month growth span that had remained unbroken since July 2020.