Analysis of the Production and Sales Situation of China's Automobile Industry in April 2024

According to the analysis of the China Association of Automobile Manufacturers, in April 2024, the overall level of China's economic prosperity continued to expand, with the three major indices remaining within the expansion range. Manufacturing enterprises continued to accelerate production, market demand continued to recover, and their confidence in recent market development remained generally stable. China's automobile production and sales have decreased month-on-month, showing a rapid year-on-year growth, with new energy vehicles and automobile exports continuing to maintain rapid year-on-year growth.

In April 2024, China's automobile production and sales reached 2.406 million and 2.359 million respectively, with a decrease of 10.5% and 12.5% month-on-month, and an increase of 12.8% and 9.3% year-on-year.

From January to April 2024, China's automobile production and sales reached 9.012 million and 9.079 million respectively, with year-on-year growth of 7.9% and 10.2%.

In April 2024, China's production and sales of passenger vehicles reached 2.048 million and 2.001 million respectively, with a decrease of 9% and 10.5% month-on-month, and an increase of 15.2% and 10.5% year-on-year.

From January to April 2024, China's production and sales of passenger vehicles reached 7.658 million and 7.689 million, respectively, with year-on-year growth of 8.6% and 10.6%.

In April 2024, China's commercial vehicle production and sales reached 358,000 and 357,000 units respectively, with a decrease of 18.3% and 22% month-on-month, and an increase of 0.8% and 2.8% year-on-year. From January to April 2024, China's production and sales of commercial vehicles reached 1.354 million and 1.39 million respectively, with year-on-year growth of 3.9% and 8.1%, respectively.

In April 2024, China's production and sales of new energy vehicles reached 870,000 and 850,000 respectively, with year-on-year growth of 35.9% and 33.5%. From January to April 2024, China's production and sales of new energy vehicles reached 2.985 million and 2.94 million respectively, with year-on-year growth of 30.3% and 32.3%, respectively.

In April 2024, China's domestic sales of automobiles reached 1.855 million units, a month-on-month decrease of 15.4% and a year-on-year increase of 4.1%. From January to April 2024, China's domestic sales of automobiles reached 7.252 million units, a year-on-year increase of 5.6%.

In April 2024, China's automobile exports reached 504,000 units, with a month-on-month increase of 0.4% and a year-on-year increase of 34%. From January to April 2024, China's automobile exports reached 1.827 million units, with a year-on-year increase of 33.4%.

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

Translated by; WONDEE Autoparts

2024/5/20