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, 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 |
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
|
38.3
|
66.5
|
| FCV |
0.03
|
0.06
|
187
|
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
