Economic Operation of China's Automobile Industry in March 2024

In March 2024, China's automobile production and sales reached 2.687 million and 2.694 million respectively, with year-on-year growth of 4% and 9.9%. Among them, the production and sales of new energy vehicles reached 863,000 and 88,3000 respectively, with year-on-year growth of 28.1% and 35.3%.

1、 In March, China's automobile sales increased by 9.9% year-on-year

In March, China's automobile production and sales reached 2.687 million and 2.694 million respectively, with year-on-year growth of 4% and 9.9%.

From January to March, China's automobile production and sales reached 6.606 million and 6.72 million respectively, with year-on-year growth of 6.4% and 10.6%.

（1） In March, China's passenger vehicle sales increased by 10.9% year-on-year

In March, China's production and sales of passenger vehicles reached 2.25 million and 2.236 million respectively, with year-on-year growth of 4.7% and 10.9%.

From January to March, China's production and sales of passenger vehicles reached 5.69 million and 5.687 million respectively, with year-on-year growth of 6.6% and 10.7%.

（2） In March, China's commercial vehicle sales increased by 5.6% year-on-year

In March, China's commercial vehicle production and sales completed 437000 and 458,000 units respectively, with year-on-year growth of 0.7% and 5.6%.

From January to March, China's production and sales of commercial vehicles reached 997,000 and 1.033 million, respectively, with year-on-year growth of 5.1% and 10.1%.

2、 China's Sales of new energy vehicles increased by 35.3% year-on-year in March

In March, China's production and sales of new energy vehicles reached 863,000 and 883,000 respectively, with year-on-year growth of 28.1% and 35.3% respectively; The sales of new energy vehicles account for 32.8% of the total sales of new vehicles.

From January to March, China's production and sales of new energy vehicles reached 2.115 million and 2.09 million, respectively, with a year-on-year increase of 28.2% and 31.8%; The sales of new energy vehicles account for 31.1% of the total sales of new vehicles.

3、 In March, China's automobile exports increased by 37.9% year-on-year

In March, China's automobile exports reached 502,000 units, with a year-on-year increase of 37.9%. The export of new energy vehicles reached 124,000 units, with a year-on-year increase of 59.4%.

From January to March, China's automobile exports reached 1.324 million units, with a year-on-year increase of 33.2%. The export of new energy vehicles reached 307,000 units, with a year-on-year increase of 23.8%.

(Note: the above data are from China Association of Automobile Manufacturers)

Translated by; WONDEE Autoparts

2024/5/13