Brief Analysis of Production and Sales of China's Automobile Industry in January 2023

According to the statistics and analysis of China Association of Automobile Manufacturers, in January 2023, due to the withdrawal of the preferential policies for the purchase tax of traditional fuel vehicles and subsidies for new energy vehicles, the impact of the manufacturer's impulse effect at the end of the year, as well as the factors such as the reduction of the production and operation time of enterprises in this month caused by the early arrival of the Spring Festival holiday in January, and the demand of consumers for overdraft in advance, the performance of the automobile market was flat, and the automobile production and sales showed a double-digit decline on a month-on-month basis and year-on-year basis. Compared with that of February 2022 (Spring Festival month), the production and sales volume decreased by 12.1% and 5.1% respectively, and increased by 13% and 11.3% respectively compared with that of February 2019 (Spring Festival month).

In January 2023, China's auto production and sales were 1.594 million and 1.649 million respectively, with a month-on-month decrease of 33.1% and 35.5% and with a year-on-year decrease of 34.3% and 35%.

In January 2023, China's production and sales of passenger vehicles were 1.397 million and 1.469 million respectively, with a month-on-month decrease of 34.3% and with a year-on-year decrease of 35.2% and 32.9% .

In January 2023, China's the production and sales of commercial vehicles were 197,000 and 180,000, with a month-on-month decrease of 23.9% and 38.1% respectively and with a year-on-year decrease of 43.1% and 47.7% respectively.

In January 2023, China's production and sales of new energy vehicles were 425,000 and 408,000 respectively, with a month-on-month decrease of 46.6% and 49.9%, and with a year-on-year decrease of 6.9% and 6.3%.

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

Translated by; WONDEE Autoparts

2023/2/20