Economic Operation of China's Automotive Industry in December 2023

In December 2023, China's automobile production and sales reached 3.079 million and 3.156 million respectively, with year-on-year growth of 29.2% and 23.5%. Among them, the production and sales of new energy vehicles reached 1.172 million and 1.191 million respectively, with year-on-year growth of 47.5% and 46.4%.

1、 China's automobile sales increased by 23.5% year-on-year in December

In December, China's automobile production and sales reached 3.079 million and 3.156 million respectively, with year-on-year growth of 29.2% and 23.5%.

From January to December, China's automobile production and sales completed 30.161 million and 30.094 million vehicles respectively, with year-on-year growth of 11.6% and 12%.

（1） China's passenger vehicle sales increased by 23.3% year-on-year in December

In December, China's production and sales of passenger vehicles reached 2.713 million and 2.792 million respectively, with an increase of 27.7% and 23.3% year-on-year.

From January to December, China's production and sales of passenger vehicles reached 26.124 million and 26.063 million, respectively, with a year-on-year increase of 9.6% and 10.6%.

（2） China's commercial vehicles Sales of increased by 25.1% year-on-year in December

In December, China's production and sales of commercial vehicles reached 366,000 and 364,000 respectively, with year-on-year growth of 41.7% and 25.1%.

From January to December, China's production and sales of commercial vehicles reached 4.037 million and 4.031 million respectively, an increase of 26.8% and 22.1% year-on-year.

2、 China's new energy vehicles Sales increased by 46.4% year-on-year in December

In December, China's production and sales of new energy vehicles reached 1.172 million and 1.191 million respectively, with year-on-year growth of 47.5% and 46.4%; The sales of new energy vehicles account for 37.7% of the total sales of new vehicles.

From January to December, China's production and sales of new energy vehicles reached 9.587 million and 9.495 million, respectively, with year-on-year growth of 35.8% and 37.9%; The China's new energy vehicles sales account for 31.6% of the total sales of new vehicles.

3、 China's automobile exports increased by 54.3% year-on-year in December

In December, China's automobile exports reached 499,000 units, a year-on-year increase of 54.3%. The export of new energy vehicles reached 111,000 units, a year-on-year increase of 36.5%.

From January to December, China's automobile exports reached 4.91 million units, a year-on-year increase of 57.9%. The export of new energy vehicles reached 1.203 million units, a year-on-year increase of 77.6%.

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

Translated by; WONDEE Autoparts

2024/2/17