China - Automotive Production volume, 2024
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*The number of units listed is the number at the time of the announcement.
Flash report, Automotive Production volume, 2024
Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.
Flash report, October 2024
Nov 11, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
China’s October vehicle production, sales volumes increase 3.6% y/y, 7% y/y, respectively
On November 11, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for October 2024.
In October, with China’s automobile trade-in policies having a positive effect on automobile consumption, regional motor shows and price-off promotions in full swing, and automakers launching a large number of new models, China’s vehicle sales grew both year-over-year (y/y) and month-over-month (m/m). Amid bullish factors, the passenger vehicle (PV) market continued to strengthen. The commercial vehicle (CV) market, however, was relatively sluggish. New Energy Vehicle (NEV) and vehicle exports maintained rapid growth.
According to the CAAM, the facts that the accumulative effect of policies are emerging and that automakers and dealers are rushing for higher sales volumes at the end of the year will help continuously release the demand for automobile consumption, which could keep the upward momentum in China’s vehicle market going into the last two months of the year. Now that automobile trade-in policies have a remarkable boosting effect after being strengthened, the CAAM suggests that the policies be extended to 2025, and that the related implementation details be unveiled as early as possible.
In October, vehicle production and sales volumes totaled 2.996 million units and 3.053 million units, up 3.6% y/y and 7% y/y, respectively. Year-to-date (YTD) production and sales volumes were 24.466 million units and 24.624 million units, up 1.9% y/y and 2.7% y/y, respectively.
For PVs, production and sales volumes in October totaled 2.706 million units and 2.755 million units, up 7.7% y/y and 10.7% y/y, respectively. YTD production and sales volumes totaled 21.349 million units and 21.434 million units, up 3% y/y and 3.7% y/y, respectively.
For CVs, production and sales volumes in October totaled 290,000 units and 298,000 units, down 23.3% y/y and 18.3% y/y, respectively. YTD production and sales volumes were 3.117 million units and 3.19 million units, down 5.1% y/y and 3.4% y/y, respectively.
For NEVs, production and sales volumes in October totaled 1.463 million units and 1.43 million units, up 48% y/y and 49.6% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes totaled 870,000 units and 842,000 units, up 32.6% y/y and 30.4% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes totaled 593,000 units and 587,000 units, up 78.4% y/y and 89.7% y/y, respectively; and FCV (fuel cell vehicle) production and sales volumes totaled 491 units and 563 units, up 19.2% y/y and 18.8% y/y, respectively.
YTD NEV production and sales volumes totaled 9.779 million units and 9.75 million units, up 33% y/y and 33.9% y/y, respectively. Specifically, BEV production and sales volumes totaled 5.863 million units and 5.83 million units, up 13.5% y/y and 13.0% y/y, respectively; PHV production and sales volumes totaled 3.911 million units and 3.915 million units, up 79.3% y/y and 85.0% y/y, respectively; and FCV production and sales volumes totaled 4,679 units and 4,695 units, up 25.9% y/y and 27.4% y/y, respectively.
In October, vehicle exports totaled 542,000 units, up 11.1% y/y. Specifically, PV exports totaled 465,000 units, up 10.7% y/y; CV exports totaled 76,000 units, up 13.6% y/y; and NEV exports totaled 128,000 units, up 3.6% y/y. YTD vehicle exports totaled 4.855 million units, up 23.8% y/y. Specifically, PV exports totaled 4.1 million units, up 24% y/y; CV exports totaled 755,000 units, up 22.5% y/y; and NEV exports totaled 1.058 million units, up 6.3% y/y.
China - Production of vehicles
| Oct. 2024 | Jan.-Oct. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| Sedan/Hatchback | 110.6 | 36.9 | 3.7 | 902.4 | 36.9 | -1.2 |
| MPV | 10.5 | 3.5 | -2.8 | 80.9 | 3.3 | -7.9 |
| SUV | 146.6 | 48.9 | 11.8 | 1,130.5 | 46.2 | 7.6 |
| Mini Van | 2.9 | 1.0 | 7.4 | 21.2 | 0.9 | 0.0 |
| Passenger Cars Total | 270.6 | 90.3 | 7.7 | 2,134.9 | 87.3 | 3.0 |
| Commercial Vehicles Total | 29.0 | 9.7 | -23.3 | 311.7 | 12.7 | -5.1 |
| Grand Total | 299.6 | 100.0 | 3.6 | 2,446.6 | 100.0 | 1.9 |
Production of NEV
| Oct. 2024 | Jan.-Oct. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| EV | 87.0 | 59.5 | 32.6 | 586.3 | 60.0 | 13.5 |
| PHV | 59.3 | 40.5 | 78.4 | 391.1 | 40.0 | 79.3 |
| FCV | 0.04 | 0.03 | 19.2 | 0.5 | 0.05 | 25.9 |
| Total | 146.3 | 100.0 | 48.0 | 977.9 | 100.0 | 33.0 |
China - Vehicle production Top 10 models
| - | Maker/Brand | Model | Oct. 2024 | Oct. 2023 | Y-o-Y | Jan.-Oct. 2024 |
Jan.-Oct. 2023 |
Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| 1 | BYD Auto | Song PLUS | 54,374 | 39,743 | 36.8% | 400,838 | 333,198 | 20.3% |
| 2 | BYD Auto | Seagull | 52,438 | 42,825 | 22.4% | 364,183 | 185,989 | 95.8% |
| 3 | BYD Auto | Qin L | 52,077 | - | -% | 193,155 | - | -% |
| 4 | Tesla | Model Y | 47,419 | 54,959 | -13.7% | 453,221 | 528,491 | -14.2% |
| 5 | BYD Auto | Qin PLUS | 44,935 | 49,143 | -8.6% | 381,316 | 379,090 | 0.6% |
| 6 | BYD Auto | Haibao/Seal 06 | 44,200 | - | -% | 171,850 | - | -% |
| 7 | BYD Auto | Yuan PLUS | 35,903 | 44,889 | -20.0% | 242,917 | 339,749 | -28.5% |
| 8 | BYD Auto | Song L | 33,959 | - | -% | 143,462 | - | -% |
| 9 | Wuling | Wuling Hongguang MINIEV | 33,050 | 8,129 | 306.6% | 148,705 | 43,918 | 238.6% |
| 10 | BYD Auto | Song Pro | 32,417 | 23,271 | 39.3% | 215,634 | 163,294 | 32.1% |
Flash report, September 2024
Oct 15, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
China’s September vehicle production, sales volumes decrease 1.9% y/y, 1.7% y/y, respectively
On October 12, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for September 2024.
In Q3 2024, with China strengthening national support for vehicle scrapping and renewal subsidies, regional vehicle replacement and renewal policies taking effect, and automakers launching new models for fall, the passenger vehicle (PV) market recovered, seeing retail volumes grow continuously. The commercial vehicle (CV) market, however, was relatively sluggish. New Energy Vehicle (NEV) and vehicle export volumes remained good.
The CAAM suggests that the vehicle trade-in policies be extended to 2025 to guarantee their stability, continuity, and predictability considering the positive impact they have had on vehicle consumption, and that the related implementation details be unveiled as early as possible.
In September, vehicle production and sales volumes totaled 2.796 million units and 2.809 million units, down 1.9% y/y and 1.7% y/y, respectively. Year-to-date (YTD) production and sales volumes were 21.47 million units and 21.571 million units, up 1.9% y/y and 2.4% y/y, respectively.
For PVs, production and sales volumes in September totaled 2.502 million units and 2.525 million units, up 0.2% y/y and 1.5% y/y, respectively. YTD production and sales volumes totaled 18.643 million units and 18.679 million units, up 2.6% y/y and 3% y/y, respectively.
For CVs, production and sales volumes in September totaled 294,000 units and 284,000 units, down 16.8% y/y and 23.5% y/y, respectively. YTD production and sales volumes were 2.827 million units and 2.892 million units, down 2.8% y/y and 1.6% y/y, respectively.
For NEVs, production and sales volumes in September totaled 1.307 million units and 1.287 million units, up 48.8% y/y and 42.3% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes totaled 786,000 units and 775,000 units, up 33.4% y/y and 23.8% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes totaled 522,000 units and 511,000 units, up 80.1% y/y and 84.2% y/y, respectively; and FCV (fuel cell vehicle) production and sales volumes totaled 161 units and 210 units, up 11.8% y/y and 1,400% y/y, respectively.
YTD NEV production and sales volumes totaled 8.316 million units and 8.32 million units, up 31.7% y/y and 32.5% y/y, respectively. Specifically, BEV production and sales volumes totaled 4.993 million units and 4.988 million units, up 11.9% y/y and 11.6% y/y, respectively; PHV production and sales volumes totaled 3.318 million units and 3.328 million units, up 79.5% y/y and 84.2% y/y, respectively; and FCV production and sales volumes totaled 4,188 units and 4,133 units, up 40.6% y/y and 44% y/y, respectively.
In September, vehicle exports totaled 539,000 units, up 21.4% y/y. Specifically, PV exports totaled 457,000 units, up 20% y/y; CV exports totaled 82,000 units, up 29.8% y/y; and NEV exports totaled 111,000 units, up 15.6% y/y. YTD vehicle exports totaled 4.312 million units, up 27.3% y/y. Specifically, PV exports totaled 3.633 million units, up 28% y/y; CV exports totaled 679,000 units, up 23.6% y/y; and NEV exports totaled 928,000 units, up 12.5% y/y.
China - Production of vehicles
| Sep. 2024 | Jan.-Sep. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| Sedan/Hatchback | 103.8 | 37.1 | -3.1 | 791.8 | 36.9 | -1.3 |
| MPV | 10.0 | 3.6 | -10.7 | 70.4 | 3.3 | -8.6 |
| SUV | 133.6 | 47.8 | 3.5 | 983.9 | 45.8 | 7.0 |
| Mini Van | 2.8 | 1.0 | 27.3 | 18.2 | 0.8 | -1.4 |
| Passenger Cars Total | 250.2 | 89.5 | 0.2 | 1,864.3 | 86.8 | 2.6 |
| Commercial Vehicles Total | 29.4 | 10.5 | -16.8 | 282.7 | 13.2 | -2.8 |
| Grand Total | 279.6 | 100.0 | -1.9 | 2,147.0 | 100.0 | 1.9 |
Production of NEV
| Sep. 2024 | Jan.-Sep. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| EV | 78.6 | 60.1 | 33.4 | 499.3 | 60.0 | 11.9 |
| PHV | 52.2 | 39.9 | 80.1 | 331.8 | 39.9 | 79.5 |
| FCV | 0.0 | 0.0 | 11.8 | 0.4 | 0.1 | 40.6 |
| Total | 130.7 | 100.0 | 48.8 | 831.6 | 100.0 | 31.7 |
China - Vehicle production Top 10 models
| - | Maker/Brand | Model | Sep. 2024 | Sep. 2023 | Y-o-Y | Jan.-Sep. 2024 |
Jan.-Sep. 2023 |
Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| 1 | BYD Auto | Song PLUS | 46,963 | 40,629 | 15.6% | 346,464 | 293,455 | 18.1% |
| 2 | BYD Auto | Haibao/Seal 06 | 45,031 | - | -% | 127,650 | - | -% |
| 3 | Tesla | Model Y | 44,498 | 47,989 | -7.3% | 405,802 | 473,532 | -14.3% |
| 4 | BYD Auto | Seagull | 44,190 | 38,269 | 15.5% | 311,745 | 143,164 | 117.8% |
| 5 | BYD Auto | Qin L | 40,760 | - | -% | 141,078 | - | -% |
| 6 | BYD Auto | Qin PLUS | 35,045 | 42,552 | -17.6% | 336,381 | 329,947 | 2.0% |
| 7 | Wuling | Wuling Bingo/Binguo | 32,690 | 21,901 | 49.3% | 105,924 | 126,454 | -16.2% |
| 8 | BYD Auto | Song L | 32,529 | - | -% | 109,503 | - | -% |
| 9 | BYD Auto | Yuan PLUS | 31,348 | 30,446 | 3.0% | 207,014 | 294,860 | -29.8% |
| 10 | Tesla | Model 3 | 29,874 | 18,104 | 65.0% | 260,148 | 216,045 | 20.4% |
Flash report, August 2024
Sep 10, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
China’s August vehicle production, sales volumes decrease 3.2% y/y, 5% y/y, respectively
On September 10, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for August 2024.
Since two Chinese government bodies issued the “Several Measures to Strengthen Support for Large-scale Equipment Renewal and Consumer Goods Trade-in” (the Measures) on July 25, subsidies for vehicle scrapping and replacement have been stepped up, with the daily average quantity of applications for such subsidies exceeding 10,000 in August. Several provinces and cities followed up by introducing vehicle replacement policies, further arousing consumption enthusiasm, especially for New Energy Vehicles (NEVs). This promoted vehicle production and sales volume to grow month-over-month.
According to the CAAM, the fact that the Measures and regional subsidy policies for vehicle replacement are gradually taking effect would provide positive support for the automobile market in the last four months of the year. Coupled with the upcoming months of September and October, the traditional peak season for vehicle sales where autumn motor shows will be held in many regions and automakers will launch a range of new products, consumption vitality will be further released.
In August, vehicle production and sales volumes totaled 2.492 million units and 2.453 million units, down 3.2% y/y and 5% y/y, respectively. Year-to-date (YTD) production and sales volumes were 18.674 million units and 18.766 million units, up 2.5% y/y and 3% y/y, respectively.
For passenger vehicles (PVs), production and sales volumes in August totaled 2.221 million units and 2.181 million units, down 2.3% y/y and 4% y/y, respectively. YTD production and sales volumes totaled 16.141 million units and 16.157 million units, up 3% y/y and 3.3% y/y, respectively.
For commercial vehicles (CVs), production and sales volumes in August totaled 271,000 units and 272,000 units, down 9.8% y/y and 12.2% y/y, respectively. YTD production and sales volumes were 2.532 million units and 2.608 million units, down 0.8% y/y and up 1.6% y/y, respectively.
For NEVs, production and sales volumes in August totaled 1.092 million units and 1.1 million units, up 29.6% y/y and 30% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes both totaled 646,000 units, up 9.7% y/y and 8.3% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes totaled 445,000 units and 453,000 units, up 75.6% y/y and 81.6% y/y, respectively; and FCV (fuel cell vehicle) production and sales volumes both totaled 1,000 units, up 417.6% y/y and 216.9% y/y, respectively.
YTD NEV production and sales volumes totaled 7.008 million units and 7.037 million units, up 29% y/y and 30.9% y/y, respectively. Specifically, BEV production and sales volumes totaled 4.208 million units and 4.216 million units, up 8.7% y/y and 9.7% y/y, respectively; PHV production and sales volumes totaled 2.796 million units and 2.817 million units, up 79.3% y/y and 84.2% y/y, respectively; and FCV production and sales volumes both totaled 4,000 units, up 42% y/y and 37.4% y/y, respectively.
In August, vehicle exports totaled 511,000 units, up 25.4% y/y. Specifically, PV exports totaled 438,000 units, up 25.6% y/y; CV exports totaled 74,000 units, up 24.7% y/y; and NEV exports totaled 110,000 units, up 22% y/y. YTD vehicle exports totaled 3.773 million units, up 28.3% y/y. Specifically, PV exports totaled 3.176 million units, up 29.4% y/y; CV exports totaled 597,000 units, up 22.8% y/y; and NEV exports totaled 818,000 units, up 12.6% y/y.
China - Production of vehicles
| Aug. 2024 | Jan.-Aug. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| Sedan/Hatchback | 93.3 | 37.4 | -6.1 | 688.0 | 36.8 | -1.0 |
| MPV | 8.5 | 3.4 | -15.0 | 60.4 | 3.2 | -8.3 |
| SUV | 118.3 | 47.5 | 1.9 | 850.2 | 45.5 | 7.6 |
| Mini Van | 2.0 | 0.8 | 0.0 | 15.5 | 0.8 | -5.2 |
| Passenger Cars Total | 222.1 | 89.1 | -2.3 | 1,614.1 | 86.4 | 3.0 |
| Commercial Vehicles Total | 27.1 | 10.9 | -9.8 | 253.2 | 13.6 | -0.8 |
| Grand Total | 249.2 | 100.0 | -3.2 | 1,867.4 | 100.0 | 2.5 |
Production of NEV
| Aug. 2024 | Jan.-Aug. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| EV | 64.6 | 59.2 | 9.7 | 420.8 | 60.0 | 8.7 |
| PHV | 44.5 | 40.8 | 75.6 | 279.6 | 39.9 | 79.3 |
| FCV | 0.1 | 0.09 | 417.6 | 0.4 | 0.06 | 42 |
| Total | 109.2 | 100.0 | 29.6 | 700.8 | 100.0 | 29.0 |
China - Vehicle production Top 10 models
| - | Maker/Brand | Model | Aug. 2024 | Aug. 2023 | Y-o-Y | Jan.-Aug. 2024 |
Jan.-Aug. 2023 |
Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| 1 | Tesla | Model Y | 53,715 | 59,502 | -9.7% | 361,304 | 425,543 | -15.1% |
| 2 | BYD Auto | Haibao/Seal 06 | 41,500 | - | -% | 82,619 | - | -% |
| 3 | BYD Auto | Seagull | 41,405 | 34,175 | 21.2% | 267,555 | 104,895 | 155.1% |
| 4 | BYD Auto | Qin L | 41,314 | - | -% | 100,318 | - | -% |
| 5 | BYD Auto | Song PLUS | 39,060 | 35,838 | 9.0% | 299,501 | 252,826 | 18.5% |
| 6 | Tesla | Model 3 | 34,363 | 21,330 | 61.1% | 230,274 | 197,941 | 16.3% |
| 7 | BYD Auto | Yuan PLUS | 30,115 | 32,525 | -7.4% | 175,666 | 264,414 | -33.6% |
| 8 | VW | Lavida | 27,268 | 25,348 | 7.6% | 178,718 | 179,780 | -0.6% |
| 9 | BYD Auto | Qin PLUS | 26,627 | 40,376 | -34.1% | 301,336 | 287,395 | 4.9% |
| 10 | VW | Sagitar | 26,519 | 31,683 | -16.3% | 168,276 | 163,827 | 2.7% |
Flash report, July 2024
Aug 9, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
China’s July vehicle production, sales volumes decrease 4.8% y/y, 5.2% y/y, respectively
On August 9, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for July 2024.
In July, China’s overall automobile market entered the traditional off season and was relatively flat, with production and sales volumes dropping month-over-month (m/m) and year-over-year (y/y). Passenger vehicle (PV) and commercial vehicle (CV) production and sales volumes all shrank m/m and y/y, while New Energy Vehicle (NEV) and vehicle export volumes maintained rapid growth y/y.
According to the CAAM, two Chinese government bodies issued the “Several Measures to Strengthen Support for Large-scale Equipment Renewal and Consumer Goods Trade-in”, which provide much stronger support than the “Detailed Rules for the Implementation of Automobile Trade-in Subsidies” issued on April 24 and are applicable to both PVs and CVs. Such policies will further release replacement demand in the stock automobile market. Additionally, the continuous launch of new models and the introduction of vehicle purchase-related incentives from some regional governments will help achieve the expected goals for the year.
In July, vehicle production and sales volumes totaled 2.286 million units and 2.262 million units, down 4.8% y/y and 5.2% y/y, respectively. Year-to-date (YTD) production and sales volumes were 16.179 million units and 16.31 million units, up 3.4% y/y and 4.4% y/y, respectively.
For PVs, production and sales volumes in July totaled 2.03 million units and 1.994 million units, down 4% y/y and 5.1% y/y, respectively. YTD production and sales volumes totaled 13.917 million units and 13.974 million units, up 3.9% y/y and 4.5% y/y, respectively.
For CVs, production and sales volumes in July totaled 256,000 units and 268,000 units, down 10.5% y/y and 6.6% y/y, respectively. YTD production and sales volumes were 2.262 million units and 2.336 million units, up 0.4% y/y and 3.5% y/y, respectively.
For NEVs, production and sales volumes in July totaled 984,000 units and 991,000 units, up 22.3% y/y and 27% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes totaled 569,000 units and 551,000 units, up 3.3% y/y and 2.6% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes totaled 415,000 units and 438,000 units, up 63.3% y/y and 80.7% y/y, respectively; and FCV (fuel cell vehicle) production and sales volumes both totaled 1,000 units, up 272% y/y and 181.2% y/y, respectively.
YTD NEV production and sales volumes totaled 5.914 million units and 5.934 million units, up 28.8% y/y and 31.1% y/y, respectively. Specifically, BEV production and sales volumes totaled 3.559 million units and 3.57 million units, up 8.4% y/y and 10.1% y/y, respectively; PHV production and sales volumes totaled 2.351 million units and 2.361 million units, up 80.1% y/y and 84.5% y/y, respectively; and FCV production and sales volumes both totaled 3,000 units, up 28.0% y/y and 25.5% y/y, respectively.
In July, vehicle exports totaled 469,000 units, up 19.6% y/y. Specifically, PV exports totaled 399,000 units, up 22.4% y/y; CV exports totaled 70,000 units, up 5.8% y/y; and NEV exports totaled 103,000 units, up 2.2% y/y. YTD vehicle exports totaled 3.262 million units, up 28.8% y/y. Specifically, PV exports totaled 2.738 million units, up 30.1% y/y; CV exports totaled 524,000 units, up 22.6% y/y; and NEV exports totaled 708,000 units, up 11.4% y/y.
China - Production of vehicles
| Jul. 2024 | Jan.-Jul. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| Sedan/Hatchback | 85.5 | 37.4 | -5.8 | 594.4 | 36.7 | -0.1 |
| MPV | 7.1 | 3.1 | -16.5 | 51.9 | 3.2 | -7.0 |
| SUV | 108.9 | 47.6 | -1.2 | 731.9 | 45.2 | 8.6 |
| Mini Van | 1.5 | 0.7 | -25.0 | 13.5 | 0.8 | -5.9 |
| Passenger Cars Total | 203.0 | 88.8 | -4.0 | 1,391.7 | 86.0 | 3.9 |
| Commercial Vehicles Total | 25.6 | 11.2 | -10.5 | 226.2 | 14.0 | 0.4 |
| Grand Total | 228.6 | 100.0 | -4.8 | 1,617.9 | 100.0 | 3.4 |
Production of NEV
| Jul. 2024 | Jan.-Jul. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| EV | 56.9 | 57.8 | 3.3 | 355.9 | 60.2 | 8.4 |
| PHV | 41.5 | 42.2 | 63.3 | 235.1 | 39.8 | 80.1 |
| FCV | 0.1 | 0.10 | 272.0 | 0.3 | 0.05 | 28.0 |
| Total | 98.4 | 100.0 | 22.3 | 591.4 | 100.0 | 28.8 |
China - Vehicle production Top 10 models
| - | Maker/Brand | Model | Jul. 2024 | Jul. 2023 | Y-o-Y | Jan.-Jul. 2024 |
Jan.-Jul. 2023 |
Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| 1 | Tesla | Model Y | 55,402 | 57,604 | -3.8% | 307,589 | 366,041 | -16.0% |
| 2 | BYD Auto | Seagull | 36,733 | 30,700 | 19.7% | 226,150 | 70,720 | 219.8% |
| 3 | BYD Auto | Song PLUS | 33,382 | 31,743 | 5.2% | 260,441 | 216,988 | 20.0% |
| 4 | Tesla | Model 3 | 33,151 | 22,741 | 45.8% | 195,911 | 176,611 | 10.9% |
| 5 | BYD Auto | Qin L | 32,900 | - | -% | 59,004 | - | -% |
| 6 | BYD Auto | Qin PLUS | 32,847 | 41,372 | -20.6% | 274,709 | 247,019 | 11.2% |
| 7 | BYD Auto | Yuan PLUS | 28,793 | 31,329 | -8.1% | 145,551 | 231,889 | -37.2% |
| 8 | BYD Auto | Haibao/Seal 06 | 25,070 | - | -% | 41,119 | - | -% |
| 9 | Li Auto | Li L6 | 24,732 | - | -% | 67,627 | - | -% |
| 10 | VW | Lavida | 23,425 | 25,258 | -7.3% | 151,450 | 154,432 | -1.9% |
Flash report, June 2024
Jul 10, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
China’s June vehicle production, sales volumes decrease 2.1% y/y, 2.7% y/y, respectively
On July 10, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for June 2024.
Since 2024, major economic indicators of China’s automotive industry have been trending up, with post-Q2 growth somewhat slower than Q1 growth. In the first half of the year, domestic vehicle sales edged up year-over-year (y/y), and inventories at dealerships were above normal; vehicle export growth remained rapid, while New Energy Vehicle (NEV) export growth notably slowed down; and NEV production and sales volumes maintained rapid growth, with market share increasing steadily. As of the end of June 2024, the total production and sales volume of Chinese NEVs and the market share of Chinese passenger vehicles (PVs) have exceeded 30 million units and 60%, respectively.
According to the CAAM, the implementation of favorable policies for vehicle trade-in and NEV rural spread and the massive launch of new models will be conducive to further releasing consumption potential in China’s automobile market in the second half of the year. With the overall market still under heavy pressure, however, consumer confidence and market conditions need a further boost.
In June, vehicle production and sales volumes totaled 2.507 million units and 2.552 million units, down 2.1% y/y and 2.7% y/y, respectively. Year-to-date (YTD) production and sales volumes were 13.891 million units and 14.047 million units, up 4.9% y/y and 6.1% y/y, respectively.
For PVs, production and sales volumes in June totaled 2.177 million units and 2.215 million units, down 1.9% y/y and 2.3% y/y, respectively. YTD production and sales volumes totaled 11.886 million units and 11.979 million units, up 5.4% y/y and 6.3% y/y, respectively.
For commercial vehicles (CVs), production and sales volumes in June totaled 330,000 units and 337,000 units, down 3.5% y/y and 4.9% y/y, respectively. YTD production and sales volumes were 2.005 million units and 2.068 million units, up 2% y/y and 4.9% y/y, respectively.
For NEVs, production and sales volumes in June totaled 1.003 million units and 1.049 million units, up 28.1% y/y and 30.1% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes totaled 580,000 units and 612,000 units, up 6.4% y/y and 7.4% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes totaled 422,000 units and 436,000 units, up 77.4% y/y and 85.1% y/y, respectively; and FCV (fuel cell vehicle) production and sales volumes both totaled 1,000 units, up 51.6% y/y and 11.4% y/y, respectively.
YTD NEV production and sales volumes totaled 4.929 million units and 4.944 million units, up 30.1% y/y and 32% y/y, respectively. Specifically, BEV production and sales volumes totaled 2.99 million units and 3.019 million units, up 9.4% y/y and 11.6% y/y, respectively; PHV production and sales volumes totaled 1.937 million units and 1.922 million units, up 83.9% y/y and 85.2% y/y, respectively; and FCV production and sales volumes both totaled 3,000 units, up 3.5% y/y and 7.1% y/y, respectively.
In June, vehicle exports totaled 485,000 units, up 26.9% y/y. Specifically, PV exports totaled 403,000 units, up 29.1% y/y; CV exports totaled 82,000 units, up 16.9% y/y; and NEV exports totaled 86,000 units, up 10.3% y/y. YTD vehicle exports totaled 2.793 million units, up 30.5% y/y. Specifically, PV exports totaled 2.339 million units, up 31.5% y/y; CV exports totaled 454,000 units, up 25.7% y/y; and NEV exports totaled 605,000 units, up 13.2% y/y.
China - Production of vehicles
| Jun. 2024 | Jan.-Jun. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| Sedan/Hatchback | 94.3 | 37.6 | -3.4 | 509.0 | 36.6 | 0.9 |
| MPV | 8.1 | 3.2 | -12.9 | 44.8 | 3.2 | -5.4 |
| SUV | 112.6 | 44.9 | -0.3 | 622.8 | 44.8 | 10.5 |
| Mini Van | 2.7 | 1.1 | 28.6 | 12.0 | 0.9 | -3.0 |
| Passenger Cars Total | 217.7 | 86.8 | -1.9 | 1,188.6 | 85.6 | 5.4 |
| Commercial Vehicles Total | 33.0 | 13.2 | -3.5 | 200.5 | 14.4 | 2.0 |
| Grand Total | 250.7 | 100.0 | -2.1 | 1,389.1 | 100.0 | 4.9 |
Production of NEV
| Jun. 2024 | Jan.-Jun. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| EV | 58.0 | 57.8 | 6.4 | 299 | 60.7 | 9.4 |
| PHV | 42.2 | 42.1 | 77.4 | 193.7 | 39.3 | 83.9 |
| FCV | 0.1 | 0.10 | 51.6 | 0.3 | 0.06 | 3.5 |
| Total | 100.3 | 100.0 | 28.1 | 492.9 | 100.0 | 30.1 |
China - Vehicle production Top 10 models
| - | Maker/Brand | Model | Jun. 2024 | Jun. 2023 | Y-o-Y | Jan.-Jun. 2024 |
Jan.-Jun. 2023 |
Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| 1 | BYD Auto | Qin PLUS | 52,624 | 45,569 | 15.5% | 241,862 | 205,647 | 17.6% |
| 2 | BYD Auto | Song PLUS | 43,379 | 27,982 | 55.0% | 227,059 | 185,245 | 22.6% |
| 3 | BYD Auto | Seagull | 35,924 | 23,020 | 56.1% | 189,417 | 40,020 | 373.3% |
| 4 | Tesla | Model Y | 34,418 | 52,925 | -35.0% | 252,187 | 308,437 | -18.2% |
| 5 | BYD Auto | Chaser 05 | 32,515 | 10,641 | 205.6% | 142,832 | 41,289 | 245.9% |
| 6 | Audi | Audi A6 | 26,353 | 16,399 | 60.7% | 103,732 | 70,444 | 47.3% |
| 7 | Tesla | Model 3 | 25,861 | 27,440 | -5.8% | 162,760 | 153,870 | 5.8% |
| 8 | VW | Sagitar | 25,552 | 24,672 | 3.6% | 119,051 | 118,595 | 0.4% |
| 9 | BYD Auto | Yuan PLUS | 25,389 | 29,059 | -12.6% | 116,758 | 200,560 | -41.8% |
| 10 | BYD Auto | Song Pro | 24,952 | 14,854 | 68.0% | 153,619 | 75,001 | 104.8% |
Flash report, May 2024
Jun 14, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
China’s May vehicle production, sales volumes increase 1.7% y/y, 1.5% y/y, respectively
On June 14, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for May 2024.
In May, China’s total economic output continued to expand, and enterprise production and operation activities maintained development. Vehicle production and sales volumes edged up, both month-over-month (m/m) and year-over-year (y/y). New Energy Vehicle (NEV) production and sales volumes and vehicle exports maintained rapid growth y/y. Chinese automakers’ performance remained good.
According to the CAAM, China’s automobile market has recently been bullish, where the implementation of supporting policies will contribute to the full release of consumption potential. With domestic demand growing slowly, market competition further intensifying, and the grim situation of international trade protectionism continuing, the overall market remains under heavy pressure, for which effective measures need to be taken to guarantee stable industry development.
In May, vehicle production and sales volumes totaled 2.372 million units and 2.417 million units, up 1.7% y/y and 1.5% y/y, respectively. Year-to-date (YTD) production and sales volumes were 11.384 million units and 11.496 million units, up 6.5% y/y and 8.3% y/y, respectively.
For passenger vehicles (PVs), production and sales volumes in May totaled 2.051 million units and 2.075 million units, up 2% y/y and 1.2% y/y, respectively. YTD production and sales volumes totaled 9.709 million units and 9.765 million units, up 7.1% y/y and 8.5% y/y, respectively.
For commercial vehicles (CVs), production and sales volumes in May totaled 321,000 units and 341,000 units, down 0.2% y/y and up 3.3% y/y, respectively. YTD production and sales volumes were 1.675 million units and 1.731 million units, up 3.1% y/y and 7.1% y/y, respectively.
For NEVs, production and sales volumes in May totaled 940,000 units and 955,000 units, up 31.9% y/y and 33.3% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes totaled 557,000 units and 583,000 units, up 8.8% y/y and 12.5% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes totaled 383,000 units and 371,000 units, up 91.2% y/y and 87.7% y/y, respectively; and FCV (fuel cell vehicle) production and sales volumes both totaled 400 units, down 46.5% y/y and up 5.2% y/y, respectively.
YTD NEV production and sales volumes totaled 3.926 million units and 3.895 million units, up 30.7% y/y and 32.5% y/y, respectively. Specifically, BEV production and sales volumes totaled 2.41 million units and 2.407 million units, up 10.2% y/y and 12.7% y/y, respectively; PHV production and sales volumes totaled 1.514 million units and 1.486 million units, up 85.7% y/y and 85.2% y/y, respectively; and FCV production and sales volumes both totaled 2,000 units, down 13.8% y/y and up 4.3% y/y, respectively.
In May, vehicle exports totaled 481,000 units, up 23.9% y/y. Specifically, PV exports totaled 397,000 units, up 22.1% y/y; CV exports totaled 84,000 units, up 32.7% y/y; and NEV exports totaled 99,000 units, down 9% y/y. YTD vehicle exports totaled 2.308 million units, up 31.3% y/y. Specifically, PV exports totaled 1.937 million units, up 32% y/y; CV exports totaled 372,000 units, up 27.9% y/y; and NEV exports totaled 519,000 units, up 13.7% y/y.
China - Production of vehicles
| May 2024 | Jan.-May 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| Sedan/Hatchback | 88.0 | 37.1 | -1.1 | 414.7 | 36.4 | 1.9 |
| MPV | 7.4 | 3.1 | -12.9 | 36.7 | 3.2 | -3.7 |
| SUV | 106.9 | 45.1 | 4.8 | 510.3 | 44.8 | 13.2 |
| Mini Van | 2.8 | 1.2 | 75.0 | 9.2 | 0.8 | -10.0 |
| Passenger Cars Total | 205.1 | 86.5 | 2.0 | 970.9 | 85.3 | 7.1 |
| Commercial Vehicles Total | 32.1 | 13.5 | -0.2 | 167.5 | 14.7 | 3.1 |
| Grand Total | 237.2 | 100.0 | 1.7 | 1,138.4 | 100.0 | 6.5 |
Production of NEV
| May 2024 | Jan.-May 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| EV | 55.7 | 59.3 | 8.8 | 241 | 61.4 | 10.2 |
| PHV | 38.3 | 40.7 | 91.2 | 151.4 | 38.6 | 85.7 |
| FCV | 0.04 | 0.04 | -46.5 | 0.2 | 0.05 | -13.8 |
| Total | 94.0 | 100.0 | 31.9 | 392.6 | 100.0 | 30.7 |
China - Vehicle production Top 10 models
| - | Maker/Brand | Model | May 2024 | May 2023 | Y-o-Y | Jan.-May 2024 |
Jan.-May 2023 |
Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| 1 | BYD Auto | Qin PLUS | 60,984 | 39,580 | 54.1% | 189,238 | 160,078 | 18.2% |
| 2 | BYD Auto | Song PLUS | 45,691 | 25,623 | 78.3% | 183,680 | 157,263 | 16.8% |
| 3 | Tesla | Model Y | 40,418 | 51,762 | -21.9% | 217,769 | 255,512 | -14.8% |
| 4 | BYD Auto | Chaser 05 | 37,622 | 11,640 | 223.2% | 110,317 | 30,648 | 259.9% |
| 5 | BYD Auto | Seagull | 33,594 | 15,000 | 124.0% | 153,493 | 17,000 | 802.9% |
| 6 | BYD Auto | Song Pro | 33,079 | 12,600 | 162.5% | 128,667 | 60,147 | 113.9% |
| 7 | Tesla | Model 3 | 26,891 | 26,694 | 0.7% | 136,899 | 126,430 | 8.3% |
| 8 | BYD Auto | Yuan PLUS | 24,626 | 30,748 | -19.9% | 91,369 | 171,501 | -46.7% |
| 9 | Nissan | Bluebird Sylphy/Sylphy | 24,121 | 21,959 | 9.8% | 93,334 | 93,764 | -0.5% |
| 10 | BYD Auto | Han | 22,774 | 19,300 | 18.0% | 78,836 | 73,489 | 7.3% |
Flash report, April 2024
May 13, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
China’s April vehicle production, sales volumes increase 12.8% y/y, 9.3% y/y, respectively
On May 11, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for April 2024.
In April, China’s vehicle production and sales volumes fell month-over-month (m/m) and rose year-over-year (y/y). New Energy Vehicle (NEV) and vehicle exports maintained rapid growth y/y.
According to the CAAM, the implementation of policies such as the “Detailed Rules for the Implementation of Automobile Trade-in Subsidies” and the “Notification on Adjustments to Policies Related to Car Loans”, plus Chinese automakers’ quicker pace of innovation and continuous launch of new models, are conducive to further arousing consumption potential in China’s auto market and expanding domestic demand.
In April, vehicle production and sales volumes totaled 2.406 million units and 2.359 million units, up 12.8% y/y and 9.3% y/y, respectively. Year-to-date (YTD) production and sales volumes were 9.012 million units and 9.079 million units, up 7.9% y/y and 10.2% y/y, respectively.
For passenger vehicles (PVs), production and sales volumes in April totaled 2.048 million units and 2.001 million units, up 15.2% y/y and 10.5% y/y, respectively. YTD production and sales volumes totaled 7.658 million units and 7.689 million units, up 8.6% y/y and 10.6% y/y, respectively.
For commercial vehicles (CVs), production and sales volumes in April totaled 358,000 units and 357,000 units, up 0.8% y/y and 2.8% y/y, respectively. YTD production and sales volumes were 1.354 million units and 1.39 million units, up 3.9% y/y and 8.1% y/y, respectively.
For NEVs, production and sales volumes in April totaled 870,000 units and 850,000 units, up 35.9% y/y and 33.5% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes totaled 535,000 units and 519,000 units, up 11.6% y/y and 11.1% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes totaled 334,000 units and 331,000 units, up 108.5% y/y and 95.7% y/y, respectively; and FCV (fuel cell vehicle) production and sales volumes both totaled 300 units, down 18.5% y/y and 5.9% y/y, respectively.
YTD NEV production and sales volumes totaled 2.985 million units and 2.94 million units, up 30.3% y/y and 32.3% y/y, respectively. Specifically, BEV production and sales volumes totaled 1.853 million units and 1.824 million units, up 10.6% y/y and 12.8% y/y, respectively; PHV production and sales volumes totaled 1.131 million units and 1.115 million units, up 84% y/y and 84.5% y/y, respectively; and FCV production and sales volumes both totaled 1,000 units, up 12.5% y/y and 8.4% y/y, respectively.
In April, vehicle exports totaled 504,000 units, up 34% y/y. Specifically, PV exports totaled 429,000 units, up 35.9% y/y; CV exports totaled 74,000 units, up 24% y/y; and NEV exports totaled 114,000 units, up 13.3% y/y. YTD vehicle exports totaled 1.827 million units, up 33.4% y/y. Specifically, PV exports totaled 1.539 million units, up 34.8% y/y; CV exports totaled 288,000 units, up 26.5% y/y; and NEV exports totaled 421,000 units, up 20.8% y/y.
China - Production of vehicles
| Apr. 2024 | Jan.-Apr. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| Sedan/Hatchback | 88.4 | 36.7 | 8.7 | 326.7 | 36.3 | 2.7 |
| MPV | 7.7 | 3.2 | -2.5 | 29.3 | 3.3 | -1.0 |
| SUV | 106.1 | 44.1 | 21.8 | 403.4 | 44.8 | 15.6 |
| Mini Van | 2.6 | 1.1 | 73.3 | 6.4 | 0.7 | -26.5 |
| Passenger Cars Total | 204.8 | 85.1 | 15.2 | 765.8 | 85.0 | 8.6 |
| Commercial Vehicles Total | 35.8 | 14.9 | 0.8 | 135.4 | 15.0 | 3.9 |
| Grand Total | 240.6 | 100.0 | 12.8 | 901.2 | 100.0 | 7.9 |
Production of NEV
| Apr. 2024 | Jan.-Apr. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| EV | 53.5 | 61.5 | 11.6 | 185.3 | 62.1 | 10.6 |
| PHV | 33.4 | 38.4 | 108.5 | 113.1 | 37.9 | 84.0 |
| FCV | 0.03 | 0.03 | -18.5 | 0.1 | 0.03 | 12.5 |
| Total | 87.0 | 100.0 | 35.9 | 298.5 | 100.0 | 30.3 |
China - Vehicle production Top 10 models
| - | Maker/Brand | Model | Apr. 2024 | Apr. 2023 | Y-o-Y | Jan.-Apr. 2024 |
Jan.-Apr. 2023 |
Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| 1 | BYD Auto | Qin PLUS | 53,454 | 41,506 | 28.8% | 128,254 | 120,498 | 6.4% |
| 2 | BYD Auto | Song PLUS | 48,502 | 24,385 | 98.9% | 137,989 | 131,640 | 4.8% |
| 3 | BYD Auto | Song Pro | 40,150 | 7,610 | 427.6% | 95,588 | 47,547 | 101.0% |
| 4 | Tesla | Model Y | 36,610 | 54,859 | -33.3% | 177,351 | 203,750 | -13.0% |
| 5 | BYD Auto | Seagull | 36,349 | 2,000 | 1717.5% | 119,899 | 2,000 | 5895.0% |
| 6 | BYD Auto | Chaser 05 | 33,010 | 5,495 | 500.7% | 72,695 | 19,008 | 282.4% |
| 7 | Chery | Tiggo 7 | 28,635 | 20,200 | 41.8% | 89,689 | 64,155 | 39.8% |
| 8 | Tesla | Model 3 | 27,101 | 30,088 | -9.9% | 110,008 | 99,736 | 10.3% |
| 9 | BYD Auto | Han | 21,233 | 11,544 | 83.9% | 56,062 | 54,189 | 3.5% |
| 10 | BYD Auto | Yuan PLUS | 20,303 | 43,191 | -53.0% | 66,743 | 140,753 | -52.6% |
Flash report, March 2024
Apr 10, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
China’s March vehicle production, sales volumes increase 4% y/y, 9.9% y/y, respectively
On April 10, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for March 2024.
In March, a large number of new models were launched, and offline activities such as auto shows were successively held. Some regions introduced promotion policies such as trade-in policies to boost auto sales, both month-over-month (m/m) and year-over-year (y/y).
In Q1, China’s auto industry got off to a flying start, with production and sales volumes growing rapidly. Specifically, passenger vehicle (PV) and commercial vehicle (CV) market performance remained good; the New Energy Vehicle (NEV) market maintained rapid growth and occupied a stable share of 30%; vehicle export volume stayed high; and Chinese brands continued to see an upward momentum and have a large market share.
According to the CAAM, at present, exports are an important growth driver, while insufficient domestic demand remains a prominent problem that needs to be addressed in 2024. It is hoped that the Chinese government will continue to offer the auto industry a favorable policy environment by promoting a new round of large-scale equipment renewal and the early refinement and implementation of policies and measures such as consumer goods trade-in to further arouse potential for auto consumption and stabilize the industry’s expectations.
In March, vehicle production and sales volumes totaled 2.687 million units and 2.694 million units, up 4% y/y and 9.9% y/y, respectively. Year-to-date (YTD) production and sales volumes were 6.606 million units and 6.72 million units, up 6.4% y/y and 10.6% y/y, respectively.
For PVs, production and sales volumes in March totaled 2.25 million units and 2.236 million units, up 4.7% y/y and 10.9% y/y, respectively. YTD production and sales volumes totaled 5.609 million units and 5.687 million units, up 6.6% y/y and 10.7% y/y, respectively.
For CVs, production and sales volumes in March totaled 437,000 units and 458,000 units, up 0.7% y/y and 5.6% y/y, respectively. YTD production and sales volumes were 997,000 units and 1.033 million units, up 5.1% y/y and 10.1% y/y, respectively.
For NEVs, production and sales volumes in March totaled 863,000 units and 883,000 units, up 28.1% y/y and 35.3% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes totaled 546,000 units and 566,000 units, up 7.0% y/y and 15.5% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes both totaled 317,000 units, up 94.6% y/y and 95.1% y/y, respectively; and FCV (fuel cell vehicle) production and sales volumes totaled 300 units and 200 units, down 33.2% y/y and 52.2% y/y, respectively.
YTD NEV production and sales volumes totaled 2.115 million units and 2.09 million units, up 28.2% y/y and 31.8% y/y, respectively. Specifically, BEV production and sales volumes totaled 1.317 million units and 1.305 million units, up 9.9% y/y and 13.3% y/y, respectively; PHV production and sales volumes totaled 797,000 units and 784,000 units, up 76.6% y/y and 81.2% y/y, respectively; and FCV production and sales volumes both totaled 1,000 units, up 33.4% y/y and 14.7% y/y, respectively.
In March, vehicle exports totaled 502,000 units, up 37.9% y/y. Specifically, PV exports totaled 424,000 units, up 39.3% y/y; CV exports totaled 78,000 units, up 31% y/y; and NEV exports totaled 124,000 units, up 59.4% y/y. YTD vehicle exports totaled 1.324 million units, up 33.2% y/y. Specifically, PV exports totaled 1.11 million units, up 34.3% y/y; CV exports totaled 214,000 units, up 27.5% y/y; and NEV exports totaled 307,000 units, up 23.8% y/y.
| Mar. 2024 | Jan.-Mar. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| Sedan/Hatchback | 97.8 | 36.4 | 2.6 | 238.3 | 36.1 | 1.0 |
| MPV | 9.6 | 3.6 | 2.1 | 21.6 | 3.3 | -0.5 |
| SUV | 115.8 | 43.1 | 7.1 | 297.2 | 45.0 | 13.7 |
| Mini Van | 1.8 | 0.7 | -14.3 | 3.8 | 0.6 | -47.1 |
| Passenger Cars Total | 225.0 | 83.7 | 4.7 | 560.9 | 84.9 | 6.6 |
| Commercial Vehicles Total | 43.7 | 16.3 | 0.7 | 99.7 | 15.1 | 5.1 |
| Grand Total | 268.7 | 100.0 | 4.0 | 660.6 | 100.0 | 6.4 |
Production of NEV
| Mar. 2024 | Jan.-Mar. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| EV | 54.6 | 63.3 | 7.0 | 131.7 | 62.3 | 9.9 |
| PHV | 31.7 | 36.7 | 94.6 | 79.7 | 37.7 | 76.6 |
| FCV | 0.03 | 0.03 | -33.2 | 0.1 | 0.05 | 33.4 |
| Total | 86.3 | 100.0 | 28.1 | 211.5 | 100.0 | 28.2 |
China - Vehicle production Top 10 models
| - | Maker/Brand | Model | Mar. 2024 | Mar. 2023 | Y-o-Y | Jan.-Mar. 2024 |
Jan.-Mar. 2023 |
Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| 1 | Tesla | Model Y | 49,498 | 60,127 | -17.7% | 140,741 | 148,891 | -5.5% |
| 2 | BYD Auto | Song PLUS | 42,531 | 33,048 | 28.7% | 89,487 | 107,255 | -16.6% |
| 3 | BYD Auto | Qin PLUS | 38,818 | 39,381 | -1.4% | 74,800 | 78,992 | -5.3% |
| 4 | BYD Auto | Seagull | 34,574 | - | -% | 83,550 | - | -% |
| 5 | BYD Auto | Chaser 05 | 29,448 | 3,710 | 693.7% | 39,685 | 13,513 | 193.7% |
| 6 | Tesla | Model 3 | 27,989 | 27,810 | 0.6% | 82,907 | 69,648 | 19.0% |
| 7 | BYD Auto | Song Pro | 27,300 | 8,574 | 218.4% | 55,438 | 39,937 | 38.8% |
| 8 | Chery | Tiggo 7 | 25,449 | 20,784 | 22.4% | 61,054 | 43,955 | 38.9% |
| 9 | Changan/Chana | CS75 | 25,390 | 20,703 | 22.6% | 51,654 | 49,650 | 4.0% |
| 10 | VW | Sagitar | 23,973 | 18,339 | 30.7% | 56,398 | 60,897 | -7.4% |
Flash report, February 2024
Mar 11, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
China’s February vehicle production, sales volumes decrease 25.9% y/y, 19.9% y/y, respectively
On March 11, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for February 2024.
As vehicle purchase demand was somewhat released before the Spring Festival, February vehicle production and sales volumes fell month-over-month. Year-to-date (YTD) passenger vehicle (PV) and commercial vehicle (CV) market performance maintained stability, and New Energy Vehicle (NEV) and vehicle exports remained good.
China’s 2024 Government Work Report specifies “consolidating and expanding the leading advantages of industries such as intelligent connected vehicles (ICVs) and NEVs” as well as “boosting the consumption of commodities such as ICVs and NEVs”. The CAAM believes that the further refinement and implementation of relevant policies will continuously contribute to solidifying the trend of growing in a stable manner in China’s auto industry.
In February, vehicle production and sales volumes totaled 1.506 million units and 1.584 million units, down 25.9% and 19.9% y/y, respectively. YTD production and sales volumes were 3.919 million units and 4.026 million units, up 8.1% and 11.1% y/y, respectively.
For PVs, production and sales volumes in February totaled 1.237 million units and 1.333 million units, down 25.8% y/y and 19.4% y/y, respectively. YTD production and sales volumes totaled 3.36 million units and 3.451 million units, up 7.9% and 10.6% y/y, respectively.
For CVs, production and sales volumes in February totaled 233,000 units and 251,000 units, down 26.6% and 22.5% y/y, respectively. YTD production and sales volumes were 560,000 units and 575,000 units, up 9% and 14.1%, respectively.
For NEVs, production and sales volumes in February totaled 464,000 units and 477,000 units, down 16% and 9.2% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes totaled 280,000 units and 294,000 units, down 28% and 21.8% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes both totaled 183,000 units, up 12.5% and 22.4% y/y, respectively; and FCV (fuel cell vehicle) production and sales volumes totaled 300 units and 200 units, up 187% y/y and 370% y/y, respectively.
YTD NEV production and sales volumes totaled 1.252 million units and 1.207 million units, up 28.2% and 29.4% y/y, respectively. Specifically, BEV production and sales volumes totaled 771,000 units and 740,000 units, up 12.1% and 11.7% y/y, respectively; PHV production and sales volumes totaled 480,000 units and 467,000 units, up 66.5% and 72.8% y/y, respectively; and FCV production and sales volumes both totaled 1,000 units, up 243.9% and 180.2% y/y, respectively.
In February, vehicle exports totaled 377,000 units, up 14.7% y/y. Specifically, PV exports totaled 315,000 units, up 16.2% y/y; CV exports totaled 62,000 units, up 7.6% y/y; and NEV exports totaled 82,000 units, down 5.9% y/y. YTD vehicle exports totaled 822,000 units, up 30.5% y/y. Specifically, PV exports totaled 686,000 units, up 31.5% y/y; CV exports totaled 136,000 units, up 25.9% y/y; and NEV exports totaled 182,000 units, up 7.5% y/y.
China - Production of vehicles
| Feb. 2024 | Jan.-Feb. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| Sedan/Hatchback |
53.6
|
35.6
|
-31.4
|
140.5
|
35.9
|
-0.1
|
| MPV |
4.5
|
3.0
|
-31.8
|
12.0
|
3.1
|
-2.1
|
| SUV |
68.3
|
45.4
|
-18.8
|
181.4
|
46.3
|
18.4
|
| Mini Van |
0.9
|
0.6
|
-66.7
|
2.0
|
0.5
|
-61.1
|
| Passenger Cars Total |
127.3
|
84.5
|
-25.8
|
335.9
|
85.7
|
7.9
|
| Commercial Vehicles Total |
23.3
|
15.5
|
-26.6
|
56.0
|
14.3
|
9.0
|
| Grand Total |
150.6
|
100.0
|
-25.9
|
391.9
|
100.0
|
8.1
|
Production of NEV
| Feb. 2024 | Jan.-Feb. 2024 | |||||
|---|---|---|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | Units (10,000) |
Share(%) | Y-o-Y(%) | |
| EV |
28.0
|
60.3
|
-28.0
|
77.1
|
61.6
|
12.1
|
| PHV |
18.3
|
39.4
|
12.5
|
48.0
|
38.3
|
66.5
|
| FCV |
0.03
|
0.06
|
187.0
|
0.1
|
0.08
|
243.9
|
| Total |
46.4
|
100.0
|
-16.0
|
125.2
|
100.0
|
28.2
|
China - Vehicle production Top 10 models
| - | Maker/Brand | Model | Feb. 2024 | Feb. 2023 | Y-o-Y | Jan.-Feb. 2024 |
Jan.-Feb. 2023 |
Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| 1 | Tesla | Model Y | 40,689 | 51,839 | -21.5% | 91,243 | 88,764 | 2.8% |
| 2 | Tesla | Model 3 | 22,908 | 20,493 | 11.8% | 54,918 | 41,838 | 31.3% |
| 3 | AITO (2022-) | Wenjie M7 | 21,934 | 1,737 | 1162.8% | 52,706 | 3,473 | 1417.6% |
| 4 | VW | Lavida | 20,024 | 16,923 | 18.3% | 46,486 | 35,176 | 32.2% |
| 5 | BYD Auto | Song PLUS | 17,327 | 37,938 | -54.3% | 46,956 | 74,207 | -36.7% |
| 6 | Haval | Haval H6 | 16,569 | 22,708 | -27.0% | 44,967 | 41,389 | 8.6% |
| 7 | Chery | Tiggo 7 | 16,353 | 12,046 | 35.8% | 35,605 | 23,171 | 53.7% |
| 8 | Honda | CR-V | 15,040 | 12,423 | 21.1% | 45,300 | 23,689 | 91.2% |
| 9 | BYD Auto | Seagull | 14,106 | - | -% | 48,976 | - | -% |
| 10 | VW | Magotan | 13,921 | 9,711 | 43.4% | 35,578 | 14,264 | 149.4% |
Flash report, January 2024
Feb 7, 2024
*There are cases where recently released data and detailed information in the database do not match up for reasons including different information sources, and discrepancies between preliminary reports and confirmed data.
China’s vehicle production and sales volumes increase 51.2% and 47.9% y/y in January, respectively
On February 7, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for January 2024.
In January, vehicle production and sales volumes totaled 2.41 million units and 2.439 million units, up 51.2% and 47.9% y/y, respectively.
For PVs, production and sales volumes in January totaled 2.083 million units and 2.115 million units, up 49.1% y/y and 44.0% y/y, respectively.
For CVs, production and sales volumes in January totaled 327,000 units and 324,000 units, up 66.2% and 79.6% y/y, respectively.
For NEVs, production and sales volumes in January totaled 787,000 units and 729,000 units, up 85.3% and 78.8% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes totaled 489,000 units and 445,000 units, up 63.9% and 55.1% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes totaled 297,000 units and 284,000 units, up 136.1% and 135.0% y/y, respectively; FCV (fuel cell vehicle) production and sales volumes totaled 300 units and 400 units, respectively.
In January, vehicle exports totaled 443,000 units, up 47.4% y/y. Specifically, PV exports totaled 369,000 units, up 47.5% y/y; CV exports totaled 74,000 units, up 46.9% y/y; NEV exports totaled 101,000 units, up 21.7% y/y.
As for last year, in January 2023, affected by the Spring Festival holiday and with consumer demand partially overdrawn, coupled with the expiration of purchase tax incentives for conventional ICE vehicles and subsidy policies for New Energy Vehicles (NEVs), the performance of the auto market was lackluster, with production and sales volumes showing double-digit declines in both month-over-month (m/m) and year-over-year (y/y) terms.
China - Production of vehicles
| Jan. 2024 | |||
|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | |
| Sedan/Hatchback | 86.9 | 36.1 | 39.0 |
| MPV | 7.6 | 3.2 | 33.3 |
| SUV | 112.7 | 46.8 | 62.9 |
| Mini Van | 1.1 | 0.5 | -52.2 |
| Passenger Cars Total | 208.3 | 86.4 | 49.1 |
| Commercial Vehicles Total | 32.7 | 13.6 | 66.2 |
| Grand Total | 241.0 | 100.0 | 51.2 |
Source:Created by MarkLines based on press release
Production of NEV
| Jan. 2024 | |||
|---|---|---|---|
| Units (10,000) |
Share(%) | Y-o-Y(%) | |
| EV | 48.9 | 62.1 | 63.9 |
| PHV | 29.7 | 37.7 | 136.1 |
| FCV | 0.03 | 0.04 | 373.8 |
| Total | 78.7 | 100.0 | 85.3 |
Source:CAAM, Each maker's press releases
China - Vehicle production Top 10 models
| - | Maker/Brand | Model | Jan. 2024 | Jan. 2023 | Y-o-Y |
|---|---|---|---|---|---|
| 1 | Tesla | Model Y | 50,554 | 36,925 | 36.9% |
| 2 | BYD Auto | Seagull | 34,870 | - | -% |
| 3 | Tesla | Model 3 | 32,010 | 21,345 | 50.0% |
| 4 | AITO (2022-) | Wenjie M7 | 30,772 | 1,736 | 1672.6% |
| 5 | Honda | CR-V | 30,260 | 11,266 | 168.6% |
| 6 | BYD Auto | Song PLUS | 29,629 | 36,269 | -18.3% |
| 7 | Haval | Haval H6 | 28,398 | 18,681 | 52.0% |
| 8 | VW | Lavida | 26,462 | 18,253 | 45.0% |
| 9 | VW | Sagitar | 25,900 | 18,963 | 36.6% |
| 10 | Nissan | Bluebird Sylphy/Sylphy | 25,187 | 9,086 | 177.2% |
Source: MarkLines Data Center
