Economic Operation of China's Automotive Industry in October 2023

In October 2023, China's automobile production and sales reached 2.891 million and 2.853 million respectively, with year-on-year growth of 11.2% and 13.8%. Among them, the production and sales of new energy vehicles reached 989,000 and 956,000 respectively, with year-on-year growth of 29.2% and 33.5%.

1、 China's automobile sales increased by 13.8% year-on-year in October

In October, China's automobile production and sales reached 2.891 million and 2.853 million respectively, with year-on-year growth of 11.2% and 13.8%.

From January to October, China's automobile production and sales reached 24.016 million and 23.967 million respectively, with year-on-year growth of 8% and 9.1%.

（1） China's passenger vehicle sales increased by 11.4% year-on-year in October

In October, China's production and sales of passenger vehicles reached 2.513 million and 2.488 million respectively, with year-on-year growth of 7.6% and 11.4%.

From January to October, China's production and sales of passenger vehicles reached 20.731 million and 20.664 million, respectively, with a year-on-year increase of 6% and 7.5%.

（2） China's Sales of commercial vehicles increased by 33.4% year-on-year in October

In October, China's production and sales of commercial vehicles reached 378,000 and 365,000 respectively, with year-on-year growth of 42.7% and 33.4%.

From January to October, China's production and sales of commercial vehicles reached 3.286 million and 3.303 million respectively, an increase of 22.1% and 19.8% year-on-year.

2、 China's Sales of new energy vehicles increased by 33.5% year-on-year in October

In October, China's production and sales of new energy vehicles reached 989,000 and 956,000 respectively, with year-on-year growth of 29.2% and 33.5%; The sales of new energy vehicles account for 33.5% of the total sales of new vehicles.

From January to October, China's production and sales of new energy vehicles reached 7.352 million and 7.28 million, respectively, with year-on-year growth of 33.9% and 37.8%; The sales of new energy vehicles account for 30.4% of the total sales of new vehicles.

3、 China's automobile exports increased by 44.2% year-on-year in October

In October, China's automobile exports reached 488,000 units, with a year-on-year increase of 44.2%. The export of new energy vehicles reached 124,000 units, with a year-on-year increase of 12.8%.

From January to October, China's automobile exports reached 3.922 million units, with a year-on-year increase of 59.7%. The export of new energy vehicles reached 995,000 units, with a year-on-year increase of 99.1%.

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

Translated by; WONDEE Autoparts

2023/12/21