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, 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


More detailed statistics for China

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