China's Production and Sales of Automobile Industry in October 2021

According to the statistical analysis of China Automobile Industry Association, in October 2021, automobile production and sales continued to grow month-on-month, and the year-on-year decline was narrower than that of the previous month. The chip supply this month was slightly alleviated compared with September. Although the National Day holiday reduced the effective working days, the market demand remained growing, and the growth rate of new energy vehicles was more obvious.

In October 2021, automobile production and sales reached 2.33 million and 2.333 million respectively, with a month-on-month increase of 12.2% and 12.8%, and a year-on-year decrease of 8.8% and 9.4%. From January to October 2021, the production and sales of automobiles were 20.587 million and 20.97 million, with a year-on-year increase of 5.4% and 6.4%, and the growth rate continued to drop slightly compared with that from January to September.

In October 2021, the production and sales of passenger cars were 1.988 million and 2.007 million, with a month-on-month increase of 12.5% and 14.6%, and a year-on-year decrease of 4.7% and 5.0%. From January to October 2021, the production and sales of passenger cars were 16.648 million and 16.871 million, with a year-on-year increase of 8.6% and 8.8%.

In October 2021, 342,000 and 326,000 commercial vehicles were produced and sold, with a month-on-month increase of 10.0% and 2.5%, and a year-on-year decrease of 26.9% and 29.7%. From January to October 2021, the production and sales of commercial vehicles were 3.939 million and 4.099 million, a year-on-year decrease of 6.3% and 2.5%.

In October 2021, the new energy vehicle market continued to perform well on the whole, the production and sales continued to grow month-on-month and year-on-year, and the production and sales reached another record high, reaching 397,000 and 383,000 vehicles respectively, with a month-on-month increase of 12.5% and 7.2%, with a year-on-year increase of 1.3 times. From January to October 2021, the production and sales of new energy vehicles reached 2.566 million and 2.542 million respectively, with a year-on-year increase of 1.8 times.

From: China Association of Automobile Manufacturers

Translated by; WONDEE Autoparts