China’s Mar CPI rises 0.7%, PPI falls 2.5% on year
During March, China’s Consumer Price Index (CPI) rose 0.7% on year but dipped 0.3% on month, while the country’s Producer Price Index (PPI) dropped 2.5% on year, according to the latest data released by the country’s National Bureau of Statistics on Tuesday morning. The PPI was unchanged on month, however.
China’s manufacturing PMI slips to 51.9 in March
After scoring a near 11-year high in February, China’s Purchasing Managers’ Index (PMI) for the country’s manufacturing industry retreated by 0.7 index point on month to 51.9 this month, though it remained in the expansion zone for the third month, according to the latest release from the country’s National Bureau of Statistics (NBS) on March 31.
Analysis on Chinese power battery sales in Feb ’23
Analysis on China’s power battery production and installed capacity
According to the data from China Automotive Battery Innovation Alliance, China’s production of power batteries stood at 41.45 GWh in February 2023, rising by 47.1% month on month and 29.1% year on year respectively. Negating the impact of the Chinese New Year holiday, the combined production of power batteries over January-February reached 69.62 GWh, up by 11.3% from last year’s 62.54 GWh. The country’s power battery production slackened off considerably in response to the slowing year-on-year growth in new energy vehicle (NEV) sales, with the battery production in the month below the monthly average over July-December last year.
China’s NEV sales in Q1 and forecast for Q2
The insurance registrations of new-energy passenger vehicles in China are estimated to reach 580,000 units in March this year, representing a year-on-year rise of 27.19% and a month-on-month growth of 47.21%. The combined new-energy passenger vehicles insured in the first quarter of this year are predicted to be 1,265,000 units, up by 22.34% year on year from 1,034,000 units in the same period last year.
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