Economic Operation of China's Automotive Industry in March 2023

In March 2023, China's automobile production and sales reached 2.584 million and 2.451 million units, respectively, with year-on-year growth of 15.3% and 9.7%. Among them, the production and sales of new energy vehicles reached 674,000 and 65,3000 units respectively, with year-on-year growth of 44.8% and 34.8%.

1、 China's automobile sales increased by 9.7% year-on-year in March

In March, China's automobile production and sales reached 2.584 million and 2.451 million units, respectively, with year-on-year growth of 15.3% and 9.7%.

From January to March, China's automobile production and sales reached 6.21 million and 6.076 million units, respectively, with year-on-year decrease of 4.3% and 6.7%.

（1） China's passenger vehicle sales increased by 8.2% year-on-year in March

In March, China's passenger vehicle production and sales reached 2.149 million and 2.017 million units, respectively, with year-on-year growth of 14.3% and 8.2%.

From January to March, China's passenger vehicle production and sales reached 5.262 million and 5.138 million units respectively, a year-on-year decrease of 4.3% and 7.3%, respectively.

（2） Sales of commercial vehicles in China increased by 17.4% year-on-year in March

In March, China's commercial vehicle production and sales reached 434,000 units, with year-on-year growth of 20.4% and 17.4% respectively.

From January to March, China's commercial vehicle production and sales completed 948,000 and 938,000 units respectively, with a year-on-year decrease of 3.9% and 2.9%, respectively.

2、 Sales of new energy vehicles in China increased by 34.8% year-on-year in March

In March, China's production and sales of new energy vehicles completed 674,000 and 653,000 units respectively, with year-on-year growth of 44.8% and 34.8%, respectively. The sales of new energy vehicles accounted for 26.6% of the total sales of new vehicles.

From January to March, China's production and sales of new energy vehicles reached 1.65 million and 1.586 million, respectively, with year-on-year growth of 27.7% and 26.2%. The sales of new energy vehicles accounted for 26.1% of the total sales of new vehicles.

3、 China's automobile exports increased by 1.1 times year-on-year in March

In March, China exported 364,000 complete vehicles, a year-on-year increase of 1.1 times. The export of new energy vehicles reached 78,000 units, a year-on-year increase of 3.9 times.

From January to March, China exported 994,000 complete vehicles, a year-on-year increase of 70.6%. The export of new energy vehicles reached 248,000 units, a year-on-year increase of 1.1 times.

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

Translated by; WONDEE Autoparts

2023/4/14