A Brief Analysis of The Production And Sales of The Automobile Industry

According to the statistical analysis of the China Association of Automobile Manufacturers, in October 2023, it will hit a new high in the same period in the history of the month. The auto market continued to be hot, with auto sales basically the same as in September, a slight month-on-month decline, and a double-digit year-on-year growth.

In October 2023, vehicle production and sales totaled 2.891 million units and 2.853 million units, respectively, with production up 1.5% m/m and sales down 0.2% m/m and 11.2% and 13.8% y/y, respectively.

From January to October 2023, vehicle production and sales reached 24.016 million units and 23.967 million units, up 8% and 9.1% y/y, respectively.

In October 2023, passenger vehicle production and sales totaled 2.513 million units and 2.488 million units, up 0.7% m/m and 0.02% m/m and 7.6% and 11.4% y/y, respectively.

From January to October 2023, passenger vehicle production and sales reached 20.731 million units and 20.664 million units, up 6% and 7.5% y/y, respectively.

In October 2023, commercial vehicle production and sales reached 378,000 units and 365,000 units, respectively, with production up 6.9% m/m and sales down 1.7% m/m. The year-on-year growth was 42.7% and 33.4%, respectively.

From January to October 2023, commercial vehicle production and sales reached 3.286 million units and 3.303 million units, up 22.1% and 19.8% y/y, respectively.

In October 2023, NEV production and sales reached 989,000 units and 956,000 units, up 29.2% and 33.5% y/y, respectively.

From January to October 2023, NEV production and sales reached 7.352 million units and 7.28 million units, up 33.9% and 37.8% y/y, respectively.

In October 2023, domestic sales of automobiles reached 2.365 million units, down 2.0% month-on-month and up 9.0% year-on-year.

From January to October 2023, the domestic sales of automobiles were 20.045 million units, a year-on-year increase of 2.7%.

Vehicle exports in October 2023 totaled 488,000 units, reflecting a 9.8% m/m increase and a 44.2% y/y increase.

Vehicle exports from January to October 2023 totaled 3.922 million units, reflecting a 59.7% y/y increase.