China - Automotive Production volume, 2024
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Flash report, Automotive Production volume, 2024
Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.
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
