China produced 787000 new energy vehicles and sold 729000 vehicles in January

On February 7th, the China Association of Automobile Manufacturers (CAAM) released the production and sales situation of China's automobile industry in January 2024. The data showed that China's production and sales of new energy vehicles completed 787,000 and 729,000 units respectively in January, with a decrease of 32.9% and 38.8% month-on-month, a year-on-year increase of 85.3% and 78.8%, and a market share of 29.9%.

In terms of total automobile production and sales, 2.41 million and 2.439 million vehicles were completed in January, with a decrease of 21.7% and 22.7% compared to the previous month, and a year-on-year increase of 51.2% and 47.9%, respectively.

Among them, the production and sales of passenger vehicles reached 2.083 million and 2.115 million respectively, a decrease of 23.2% and 24.2% month-on-month, and an increase of 49.1% and 44% year-on-year.

In January, the domestic sales of passenger vehicles reached 1.746 million units, a month-on-month decrease of 26.3% and a year-on-year increase of 43.3%; The export of passenger vehicles reached 369,000 units, a decrease of 12.4% month-on-month and a year-on-year increase of 47.5%. Among them, the domestic sales of traditional fuel passenger vehicles reached 1.145 million units, an increase of 241,000 units compared to the same period last year, a decrease of 15.2% month-on-month, and a year-on-year increase of 26.7%.

Looking at the sales of new energy vehicles, in January, the domestic sales of new energy vehicles reached 629,000 units, a decrease of 41.8% compared to the previous month and a year-on-year increase of 93.3%; The export of new energy vehicles reached 101,000 units, a month-on-month decrease of 9.8% and a year-on-year increase of 21.7%.

In addition, the sales of high-end brand passenger vehicles produced domestically in January reached 366,000 units, with a decrease of 23.4% month-on-month and a year-on-year increase of 27.4%.

It is worth mentioning that in January, the market share of China’s brand passenger vehicles exceeded 60%, reaching 60.4%, an increase of 8.8 percentage points. The monthly sales of China’s brand passenger vehicles reached 1.278 million units, a year-on-year increase of 68.6%.

Source: CAAM

Translated by; WONDEE Autoparts

2024/2/18