Production and Sales Situation of China's Automobile Industry in March 2024

According to statistics and analysis from the China Association of Automobile Manufacturers, in March 2024, China's automobile production and sales showed rapid growth, with both passenger and commercial vehicles performing well; New energy vehicles continue to grow rapidly, with a stable market share of 30%; The export of complete vehicles remains at a high level, continuing to play a positive role in driving industry growth; Chinese brands continue to rise, maintaining a high market share.

In March 2024, China's automobile production and sales reached 2.687 million and 2.694 million respectively, with a month-on-month increase of 78.4% and 70.2%, and a year-on-year increase of 4% and 9.9%, respectively.

From January to March 2024, China's automobile production and sales reached 6.606 million and 6.72 million respectively, with year-on-year growth of 6.4% and 10.6%.

In March 2024, China's production and sales of passenger vehicles reached 2.25 million and 2.236 million respectively, with a month-on-month increase of 76.7% and 67.8%, and a year-on-year increase of 4.7% and 10.9%, respectively.

From January to March 2024, China's production and sales of passenger vehicles reached 5.69 million and 5.687 million, respectively, with year-on-year growth of 6.6% and 10.7%.

In March 2024, China's production and sales of commercial vehicles reached 437,000 and 458,000 respectively, with a month-on-month increase of 88.1% and 82.8%, and a year-on-year increase of 0.7% and 5.6%, respectively.

From January to March 2024, China's production and sales of commercial vehicles reached 997,000 and 1.033 million, respectively, with a year-on-year increase of 5.1% and 10.1%.

In March 2024, China's production and sales of new energy vehicles reached 863,000 and 883,000 respectively, with year-on-year growth of 28.1% and 35.3%.

From January to March 2024, China's production and sales of new energy vehicles reached 2.115 million and 2.09 million, respectively, with year-on-year growth of 28.2% and 31.8%.

In March 2024, China's domestic sales of automobiles reached 2.193 million units, an increase of 81.8% month-on-month and 5.1% year-on-year.

From January to March 2024, China's domestic sales of automobiles reached 5.396 million units, a year-on-year increase of 6.2%.

In March 2024, China's automobile exports reached 502,000 units, a month-on-month increase of 33% and a year-on-year increase of 37.9%.

From January to March 2024, China's automobile exports reached 1.324 million units,with a year-on-year increase of 33.2%.

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

Translated by; WONDEE Autoparts

2024/5/6