China - Automotive Sales volume, 2024

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Flash report, Automotive sales 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.

New vehicle sales by type (Factory shipments)

Jan. 2024
Units
(10,000)
Share(%) Y-o-Y(%)
Sedan/Hatchback 89.2 36.6 38.5
MPV 6.7 2.7 21.8
SUV 114.9 47.1 51.4
Mini Van 0.7 0.3 -36.4
Passenger Cars Total
211.5 86.7 44.0
Commercial Vehicles Total 32.4 13.3 79.6
Grand Total 243.9 100.0 47.9

Source:Created by MarkLines based on press release

(New vehicle sales by brands (Factory shipments)
 (Note) The below chart includes estimates

Jan. 2024
Units
(10,000)
Share(%) Y-o-Y(%)
Chinese brands 127.81 60.4 66.0
Japanese brands 27.85 13.2 26.0
German brands 37.56 17.8 25.8
American brands 14.12 6.7 0.1
Korean brands 3.16 1.5 32.9
French brands 0.65 0.3 -32.4

Source : MarkLines Data Center

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

Sales of NEV

Jan. 2024
Units
(10,000)
Share(%) Y-o-Y(%)
EV 44.5 61.0 55.1
PHV 28.4 39.0 135.0
FCV 0.04 0.05 133.3
Total 72.9 100.0 78.8

Source:CAAM, Each maker's press releases

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


*The below data may differ from the sales volume by make (shipped from the local plant) to be released later on our data for monthly sales volume.
This is due to the difference in calculation methods.


Passenger Car retail sales by Chinese Makers Top10

- Maker Jan. 2024
(10,000)
Y-o-Y
1 BYD Auto 20.7 48.0%
2 Changan Automobile 19.0 59.9%
3 Geely Automobile 18.7 115.9%
4 FAW-VW 16.2 45.4%
5 SAIC VW 11.5 42.7%
6 Chery Automobile 10.7 160.2%
7 SAIC-GM-Wuling 7.6 46.9%
8 Dongfeng Honda 7.6 217.1%
9 GAC Toyota 7.2 17.6%
10 FAW Toyota 7.0 59.4%

Source: CPCA

Three Japanese OEMs’ Chinese sales up in January 2024
Three Japanese OEMs recently announced their sales results in China for January 2024.
Toyota sold 158,500 units in January, up 39.2% year-over-year (y/y).
On February 4, Honda announced that its January sales volume was 100,960 units, up 57.3% y/y. GAC Honda and Dongfeng Honda sold 54,081 units and 46,879 units, respectively. Monthly sales volume of the Accord and CR-V models were both exceeded 15,000 units. Monthly sales volumes of the Breeze, Integra and Civic models were exceeded 10,000 units, respectively .
On February 6, Nissan announced that its January sales volume was 65,553 units, up 37.9% y/y.

New vehicle sales by Japanese Makers

Maker/Brand Jan. 2024 Y-o-Y Note Update
Toyota 158,500 39.2% Retail Sales, Including import vehicle sales Feb. 7. 2024
Nissan 65,553 37.9% Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included. Feb. 7. 2024
Honda 100,960 57.3% Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles) Feb. 7. 2024
Mazda TBA -% Retail Sales, Including import vehicle sales  
Mitsubishi TBA -% Retail Sales, Including import vehicle sales  
Subaru TBA -% Retail Sales  

Source: Releases by each company



More detailed statistics for China

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