Economic Operation of China's Automobile Industry in February 2024

In February 2024, China's automobile production and sales reached 1.506 million and 1.584 million respectively, with a year-on-year decrease of 25.9% and 19.9%. Among them, the production and sales of new energy vehicles reached 464,000 and 477,000 respectively, witha year-on-year decrease of 16% and 9.2%.

1、 In February, China's automobile sales decreased by 19.9% year-on-year

In February, China's automobile production and sales reached 1.506 million and 1.584 million respectively, with a year-on-year decrease of 25.9% and 19.9%.

From January to February, China's automobile production and sales reached 3.919 million and 4.026 million respectively, with year-on-year growth of 8.1% and 11.1%.

（1） In February, China's passenger vehicle sales decreased by 19.4% year-on-year

In February, China's production and sales of passenger vehicles reached 1.273 million and 1.333 million respectively, with a year-on-year decrease of 25.8% and 19.4%.

From January to February, China's production and sales of passenger vehicles reached 3.36 million and 3.451 million respectively, with year-on-year growth of 7.9% and 10.6%.

（2） China's Commercial vehicle sales decreased by 22.5% year-on-year in February

In February, China's commercial vehicle production and sales completed 233,000 and 251,000 units respectively, with a year-on-year decrease of 26.6% and 22.5%.

From January to February, China's commercial vehicle production and sales reached 560,000 and 575,000 units respectively, with year-on-year growth of 9% and 14.1%.

2、 China's Sales of new energy vehicles decreased by 9.2% year-on-year in February

In February, China's production and sales of new energy vehicles reached 464,000 and 477,000 respectively, with a year-on-year decrease of 16% and 9.2%, respectively; The sales of new energy vehicles account for 30.1% of the total sales of new vehicles.

From January to February, China's production and sales of new energy vehicles reached 1.252 million and 1.207 million respectively, with year-on-year growth of 28.2% and 29.4%, respectively; The sales of new energy vehicles account for 30% of the total sales of new vehicles.

3、 China's automobile exports increased by 14.7% year-on-year in February

In February, China's automobile exports reached 377,000 units, with a year-on-year increase of 14.7%. The export of new energy vehicles reached 82,000 units, with a year-on-year decrease of 5.9%.

From January to February, China's automobile exports reached 822,000 units, with a year-on-year increase of 30.5%. The export of new energy vehicles reached 182,000 units, with a year-on-year increase of 7.5%.

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

Translated by; WONDEE Autoparts

2024/4/15