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2024

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Double over 30 million units! Ranked first in the world for 15 consecutive years!

author:

Wang Jinyu


 

On January 11, the China Association of Automobile Manufacturers released automobile production and sales data for December 2023.

 

01 General Situation

 

In December, the automobile production and sales were completed 3.079 million and 3.156 million, respectively, the output decreased by 0.5% month on month, and the sales increased by 6.3% month on month, up 29.2% and 23.5% year on year respectively. In 2023, the production and sales of automobiles were 30.161 million and 30.94 million, respectively, an increase of 11.6% and 12%.

 

◆ Reviews:Xu Haidong, deputy chief engineer of China Association of Automobile Manufacturers: In 2023, through the joint efforts of all colleagues in the automotive industry, the automotive industry has achieved good results, with production and sales exceeding 30 million.

 

Chen Shihua, deputy secretary general of China Association of Automobile Manufacturers: In 2023, automobile production and sales generally show a development trend of low before and high after, reaching a high point at the end of the year, with sales reaching 3.15 million units in December, a record high. The annual production and sales of both exceeded 30 million, which is a new historical record, from the global point of view, no market can reach this scale.

 

02 Passenger Car

 

In December, the production and sales of passenger cars were 2.713 million and 2.792 million, respectively, an increase of 0.3% and 7.2% month-on-month, and an increase of 27.7% and 23.3% year-on-year, respectively. In 2023, the production and sales of passenger cars were 26.124 million and 26.063 million, respectively, an increase of 9.6% and 10.6%.

 

◆ Reviews:Chen Shihua: Passenger cars play an important role in the growth of the car market in 2023, with production and sales increasing by 9.6% and 10.6% respectively, promoting the overall development trend of the car market.

 

03 Commercial Vehicles

 

In December, the production and sales of commercial vehicles were 366,000 and 364,000, respectively, down 5.7% and 0.4% from the previous month. Year-on-year growth was 41.7% and 25.1%, respectively. In 2023, the production and sales of commercial vehicles were 4.037 million and 4.031 million, respectively, an increase of 26.8% and 22.1%.

 

04 New energy vehicles

 

In December, the production and sales of new energy vehicles completed 1.172 million and 1.191 million, respectively, an increase of 47.5% and 46.4%, and the market share reached 37.7%. In 2023, the production and sales of new energy vehicles completed 9.587 million and 9.495 million, respectively, an increase of 35.8% and 37.9%, and the market share reached 31.6%, 5.9 percentage points higher than the same period of last year.

 

◆ Reviews:Chen Shihua: New energy has shown a rapid development trend in the past two years, and production and sales have further increased in December, reaching a new high of nearly 1.2 million units. In December, the market penetration rate of new energy passenger vehicles was close to 40%.

 

05 Export

 

In December, 499,000 vehicles were exported, up 3.5 percent month-on-month and 54.3 percent year-on-year. In 2023, 4.91 million vehicles were exported, a year-on-year increase of 57.9%.

 

◆ Reviews:Chen Shihua: In 2023, automobile exports are close to 5 million, effectively driving the overall growth of the automobile industry.

 

06 Chinese brand passenger cars

 

In December, Chinese branded passenger cars sold 1.619 million units, up 25.9 percent year on year, with a market share of 58 percent. In 2023, the sales volume of Chinese brand passenger cars was 14.596,000 units, an increase of 24.1% year-on-year, and the market share was 56%.

 

07 Sales Forecast for 2024

 

Total auto sales in China are expected to exceed 31 million units in 2024, up more than 3% year on year. Among them, 26.8 million passenger cars were sold, up 3% year on year; Commercial vehicles sold 4.2 million units, up 4 percent year on year. 11.5 million new energy vehicles were sold and 5.5 million were exported.

 

China Automotive News, January 12, 2024