Economic operation of China's automobile industry in February 2023

In February 2023, China's automobile production and sales were 2.032 million and 1.976 million, with a year on year increase of 11.9% and 13.5% respectively. Among them, the production and sales of new energy vehicles were 552,000 and 525,000, with a year on year increase of 48.8% and 55.9% respectively.

1、 China's auto sales increased by 13.5% year-on-year in February

In February, China's automobile production and sales reached 2.032 million and 1.976 million, with a year on year increase of 11.9% and 13.5% respectively.

From January to February, China's automobile production and sales were 3.626 million and 3.625 million, with a year on year decrease of 14.5% and 15.2% respectively.

（1） In February, China’s sales of passenger vehicles increased by 10.9% year on year

In February, China’s production and sales of passenger vehicles in were 1.715 million and 1.653 million, with a year-on-year increase of 11.6% and 10.9% respectively.

From January to February, China’s production and sales of passenger vehicles were 3.12 million and 3.121 million, with a year-on-year decrease of 14% and 15.2% respectively.

(2) In February, China’s sales of commercial vehicles increased by 29.1% year on year.

In February, China's commercial vehicle sales were 317,000 and 324,000,with a year-on-year increase of 13.5% and 29.1% respectively.

From January to February, China's commercial vehicle sales were 514,000 and 504,000 ,  with a year-on-year decrease of 17.8% and 15.4%, respectively.

2、 China's new energy vehicle sales increased 55.9% year on year in February

In February, China’s production and sales of new energy vehicles were 552,000 and 525,000, with a year on year increase of 48.8% and 55.9% respectively; the sales of new energy vehicles accounted for 26.6% of the total sales of new vehicles.

From January to February, China’s production and sales of new energy vehicles were 977,000 and 933,000, with a year on year increase of 18.1% and 20.8% respectively; the sales of new energy vehicles accounted for 25.7% of the total sales of new vehicles.

3、 China's auto exports increased by 82.2% year on year in February

In February, China exported 329,000 complete vehicles, with a year on year increase of 82.2%. 870,00 new energy vehicles were exported, with a year on year increase of 79.5%.

From January to February, China exported 630,000 complete vehicles, with a year on year increase of 52.9%. 170,000 new energy vehicles were exported, with a year on year increase of 62.8%.

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

Translated by; WONDEE Autoparts

2023/3/16