Production and sales situation of China's automotive industry in May 2023

According to the statistics and analysis of the China Association of Automobile Manufacturers, in May 2023, the Ministry of Ecology and Environment and five other departments jointly issued the "Announcement on the Implementation of National VI Emission Standards for Automobiles", which helps to stabilize the market. During the May Day holiday, many regions have launched car purchase promotion measures, as well as held marketing activities such as car consumption festivals and car carnivals, to help market demand recover moderately. In addition, the same period last year was still in a stage of significant impact from the epidemic, with a low base. In May, automobile production and sales achieved growth both month-on-month and year on year, with new energy vehicle production and sales continuing to grow rapidly, and automobile exports contributing significantly. The market is still in a slow recovery stage, and the economic operation of the automotive industry is still facing significant pressure. The efficiency level of industry enterprises is still at a low level.

In May 2023, China's automobile production and sales completed 2.333 million and 2.382 million units respectively, with a month-on-month increase of 9.4% and 10.3%, and a year-on-year increase of 21.1% and 27.9%, respectively.

From January to May 2023, China's automobile production and sales reached 10.687 million and 10.617 million units respectively, with a year-on-year increase of 11.1%. Due to the relatively low base from April to May last year, the cumulative growth rate of production and sales further expanded compared to January to April.

In May 2023, China's passenger car production and sales completed 2.011 million and 2.051 million units respectively, with a month-on-month increase of 13.1% and 13.3%, and a year-on-year increase of 18.2% and 26.4%, respectively.

From January to May 2023, China's passenger car production and sales reached 9.063 million and 9.001 million units, respectively, with year-on-year growth of 10.6% and 10.7%.

In May 2023, China's commercial vehicle production and sales completed 322,000 and 330,000 units respectively, a decrease of 9.3% and 4.9% month-on-month, and a year-on-year increase of 42.9% and 38.2%, respectively.

From January to May 2023, China's commercial vehicle production and sales reached 1.625 million and 1.616 million units, respectively, with year-on-year growth of 14.2% and 13.7%.

In May 2023, China's production and sales of new energy vehicles completed 713,000 and 717,000 units respectively, with a month-on-month increase of 11.4% and 12.6%, and a year-on-year increase of 53% and 60.2%, respectively.

From January to May 2023, China's production and sales of new energy vehicles reached 3.05 million and 2.94 million, respectively, with year-on-year growth of 45.1% and 46.8%, and a market share of 27.7%.

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

Translated by; WONDEE Autoparts

2023/6/25