China - Automotive Sales volume, 2024

*The number of units listed is the number at the time of the announcement.

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Flash report, Automotive sales volume, 2024

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Flash report, December 2024

Jan 14, 2025

*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 December vehicle production, sales volumes increase 9.3% y/y, 10.5% y/y, respectively
On January 13, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for December 2024 and the whole of 2024.
In 2024, with the issuance of policies for large-scale equipment replacement and consumer goods trade-in, China’s automobile industry stepped up its transition and hit new production and sales highs, showing robust resilience and vitality for development and becoming a key driver for economic growth. The industry, however, is still facing a number of difficulties and challenges in economic operation, including mounting unfavorable factors from changes in the external environment, insufficient endogenous momentum for automobile consumption due to lack of consumer confidence, and a negative impact of intensifying industry competition and shrinking profits on sound and sustainable industry development.
According to the CAAM, China will adhere to the principle of pursuing progress while ensuring stability in terms of economic development in 2025, a move conducive to further strengthening development confidence, stimulating market vitality, and driving continuous economic upturn. On January 8, China’s National Development and Reform Commission and Ministry of Finance jointly issued the “Notification of Expanding the Implementation Scope of Policies for Large-scale Equipment Replacement and Consumer Goods Trade-in in 2025”. The policies have been taking a combined effect and will further release the potential of the automobile market. It is expected that in 2025, the market will continue to grow in a stable manner and see production and sales growth.
In December, vehicle production and sales volumes totaled 3.366 million units and 3.489 million units, up 9.3% y/y and 10.5% y/y, respectively. Year-to-date (YTD) production and sales volumes were 31.282 million units and 31.436 million units, up 3.7% y/y and 4.5% y/y, respectively.
For passenger vehicles (PVs), production and sales volumes in December totaled 3.006 million units and 3.12 million units, up 10.8% y/y and 11.7% y/y, respectively. YTD production and sales volumes totaled 27.477 million units and 27.563 million units, up 5.2% y/y and 5.8% y/y, respectively.
For commercial vehicles (CVs), production and sales volumes in December totaled 361,000 units and 369,000 units, down 1.5% y/y and up 1.2% y/y, respectively. YTD production and sales volumes were 3.805 million units and 3.873 million units, down 5.8% y/y and 3.9% y/y, respectively.
For New Energy Vehicles (NEVs), production and sales volumes in December totaled 1.53 million units and 1.596 million units, up 30.5% y/y and 34% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes totaled 942,000 units and 973,000 units, up 16.1% y/y and 17.9% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes totaled 588,000 units and 622,000 units, up 63.4% y/y and 70.8% y/y, respectively; and FCV (fuel cell vehicle) production and sales volumes totaled 302 units and 268 units, down 76.7% y/y and 82.3% y/y, respectively.
YTD NEV production and sales volumes totaled 12.888 million units and 12.866 million units, up 34.4% y/y and 35.5% y/y, respectively. Specifically, BEV production and sales volumes totaled 7.758 million units and 7.719 million units, up 15.7% y/y and 15.5% y/y, respectively; PHV production and sales volumes totaled 5.125 million units and 5.141 million units, up 78.1% y/y and 83.3% y/y, respectively; and FCV production and sales volumes both totaled 5,000 units, down 10.4% y/y and 12.6% y/y, respectively.
In December, vehicle exports totaled 504,000 units, up 1.1% y/y. Specifically, PV exports totaled 426,000 units, up 1.1% y/y; CV exports totaled 78,000 units, up 1% y/y; and NEV exports totaled 134,000 units, up 19.8% y/y. YTD vehicle exports totaled 5.859 million units, up 19.3% y/y. Specifically, PV exports totaled 4.955 million units, up 19.7% y/y; CV exports totaled 904,000 units, up 17.5% y/y; and NEV exports totaled 1.284 million units, up 6.7% y/y.

New vehicle sales by type (Factory shipments)

	Dec. 2024			Jan.-Dec. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	125.2	35.9	0.9	1,151.7	36.6	0.2
MPV	13.5	3.9	13.4	105.0	3.3	-4.8
SUV	169.6	48.6	20.5	1,472.2	46.8	11.5
Mini Van	3.6	1.0	44.0	27.4	0.9	3.5
Passenger Cars Total	312.0	89.4	11.7	2,756.3	87.7	5.8
Commercial Vehicles Total	36.9	10.6	1.2	387.3	12.3	-3.9
Grand Total	348.9	100.0	10.5	3,143.6	100.0	4.5

Source:Created by MarkLines based on press release

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

	Dec. 2024			Jan.-Dec. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Chinese brands	205.66	65.9	27.6	1,794.24	65.1	22.7
Japanese brands	36.71	11.8	-7.6	312.57	11.3	-18.4
German brands	43.90	14.1	-8.5	413.92	15.0	-10.5
American brands	20.36	6.5	-15.2	177.42	6.4	-23.7
Korean brands	4.34	1.4	-18.8	43.12	1.6	3.7
French brands	0.84	0.3	49.5	10.08	0.4	-25.7

Source : MarkLines Data Center

China - Production of vehicles

	Dec. 2024			Jan.-Dec. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	120.4	35.8	-2.9	1,148.9	36.7	-0.2
MPV	12.2	3.6	4.3	106.5	3.4	-4.1
SUV	164.3	48.8	23.5	1,464.3	46.8	10.6
Mini Van	3.7	1.1	42.3	28.0	0.9	6.7
Passenger Cars Total	300.6	89.3	10.8	2,747.7	87.8	5.2
Commercial Vehicles Total	36.1	10.7	-1.5	380.5	12.2	-5.8
Grand Total	336.6	100.0	9.3	3,128.2	100.0	3.7

Source:Created by MarkLines based on press release

Sales of NEV

	Dec. 2024			Jan.-Dec. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	97.3	61.0	17.9	771.9	60.0	15.5
PHV	62.2	39.0	70.8	514.1	40.0	83.3
FCV	0.03	0.02	-82.3	0.5	0.04	-12.6
Total	159.6	100.0	34.0	1286.6	100.0	35.5

Source:CAAM, Each maker's press releases

Production of NEV

	Dec. 2024			Jan.-Dec. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	94.2	61.6	16.1	775.8	60.2	15.7
PHV	58.8	38.4	63.4	512.5	39.8	78.1
FCV	0.03	0.02	-76.7	0.5	0.04	-10.4
Total	153.0	100.0	30.5	1,288.8	100.0	34.4

Source:CAAM, Each maker's press releases

China - Top 10 best selling models

-	Maker/Brand	Model	Dec. 2024	Dec. 2023	Y-o-Y	Jan.- Dec. 2024	Jan.- Dec. 2023	Y-o-Y
1	Tesla	Model Y	61,984	62,158	-0.3%	556,689	646,845	-13.9%
2	BYD Auto	Song PLUS	60,142	50,725	18.6%	510,463	427,071	19.5%
3	BYD Auto	Seagull	57,087	50,525	13.0%	479,294	280,217	71.0%
4	BYD Auto	Qin PLUS	40,665	44,660	-8.9%	443,186	455,863	-2.8%
5	Tesla	Model 3	31,782	31,981	-0.6%	359,971	300,897	19.6%
6	BYD Auto	Yuan PLUS	32,930	41,015	-19.7%	309,536	412,202	-24.9%
7	Chery	Tiggo 7	33,911	18,657	81.8%	303,971	236,519	28.5%
8	BYD Auto	Qin L	42,700	-	-%	284,345	-	-%
9	VW	Lavida	26,163	42,203	-38.0%	284,060	351,931	-19.3%
10	BYD Auto	Song Pro	31,790	23,311	36.4%	280,755	203,491	38.0%

Source: MarkLines Data Center

*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	Dec. 2024 (10,000)	Y-o-Y
1	BYD Auto	40.3	34.3%
2	Chery Automobile	19.9	77.3%
3	Geely Automobile	18.6	46.9%
4	FAW-VW	16.1	-24.8%
5	Changan Automobile	15.7	25.0%
6	SAIC VW	15.1	2.8%
7	SAIC-GM-Wuling	12.8	22.2%
8	FAW Toyota	9.7	13.2%
9	Great Wall	8.6	22.3%
10	Tesla	8.3	9.4%

Source: CPCA

Three Japanese OEMs’ Chinese sales figures for 2024 all drop
Three Japanese OEMs recently announced their new car sales results in China for December 2024 and the whole of 2024.
Toyota sold 187,200 units in December, up 1.0% year-over-year (y/y). Year-to-date (YTD) sales volume totaled 1,776,000 units, down 6.9% y/y.
On January 9, Honda announced that its December sales volume was 111,870 units, down 32.5% y/y. YTD sales volume totaled 852,269 units, down 30.9% y/y.
On January 9, Nissan announced that its December sales volume was 74,918 units, down 24.2% y/y. YTD sales volume totaled 696,631 units, down 12.2% y/y.

New vehicle sales by Japanese Makers

Maker/Brand	Dec. 2024	Y-o-Y	Jan.-Dec. 2024	Y-o-Y	Note	Update
Toyota	187,200	1.0%	1,776,000	-6.9%	Retail Sales, Including import vehicle sales	Jan. 10. 2025
Nissan	74,918	-24.2%	696,631	-12.2%	Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included.	Jan. 10. 2025
Honda	111,870	-32.5%	852,269	-30.9%	Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles)	Jan. 10. 2025
Mazda	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Mitsubishi	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Subaru	N/A	-%	N/A	-%	Retail Sales

Source: Releases by each company

Flash report, November 2024

Dec 11, 2024

China’s November vehicle production, sales volumes increase 11.1% y/y, 11.7% y/y, respectively
On December 11, the China Association of Automobile Manufacturers (CAAM) announced China’s vehicle production and sales results for November 2024.
In November, China’s vehicle market remained hot, as trade-in policies kept taking effect and vehicle purchase demand was further released. Vehicle production and sales volumes both continued to grow year-over-year (y/y) and month-over-month (m/m), setting monthly highs. The passenger vehicle (PV) market continued to strengthen. The commercial vehicle (CV) market, however, was relatively sluggish. The New Energy Vehicle (NEV) market maintained rapid growth, strongly supporting the overall market.
According to the CAAM, with the accumulative effect of policies emerging, local governments and automakers stepping up promotions, and dealers rushing for higher sales volumes at the end of the year, China’s vehicle market will strengthen further in December. It is expected that the vehicle production and sales volumes for the whole year will exceed 30 million units.
In November, vehicle production and sales volumes totaled 3.437 million units and 3.316 million units, up 11.1% y/y and 11.7% y/y, respectively. Year-to-date (YTD) production and sales volumes were 27.903 million units and 27.94 million units, up 2.9% y/y and 3.7% y/y, respectively.
For PVs, production and sales volumes in November totaled 3.109 million units and 3.001 million units, up 14.9% y/y and 15.2% y/y, respectively. YTD production and sales volumes totaled 24.459 million units and 24.435 million units, up 4.3% y/y and 5% y/y, respectively.
For CVs, production and sales volumes in November totaled 327,000 units and 315,000 units, down 15.7% y/y and 13.9% y/y, respectively. YTD production and sales volumes were 3.444 million units and 3.505 million units, down 6.2% y/y and 4.4% y/y, respectively.
For NEVs, production and sales volumes in November totaled 1.566 million units and 1.512 million units, up 45.8% y/y and 47.4% y/y, respectively. Specifically, BEV (battery electric vehicle) production and sales volumes totaled 943,000 units and 908,000 units, up 29.7% y/y and 29.3% y/y, respectively; PHV (plug-in hybrid vehicle) production and sales volumes totaled 623,000 units and 604,000 units, up 79.7% y/y and 86.8% y/y, respectively; and FCV (fuel cell vehicle) production and sales volumes totaled 393 units and 381 units, down 45.5% y/y and 41.1% y/y, respectively.
YTD NEV production and sales volumes totaled 11.345 million units and 11.262 million units, up 34.6% y/y and 35.6% y/y, respectively. Specifically, BEV production and sales volumes totaled 6.806 million units and 6.738 million units, up 15.5% y/y and 15.0% y/y, respectively; PHV production and sales volumes totaled 4.534 million units and 4.519 million units, up 79.4% y/y and 85.2% y/y, respectively; and FCV production and sales volumes both totaled 5,000 units, up 8.9% y/y and 11.7% y/y, respectively.
In November, vehicle exports totaled 490,000 units, up 1.6% y/y. Specifically, PV exports totaled 419,000 units, up 3.2% y/y; CV exports totaled 71,000 units, down 6.6% y/y; and NEV exports totaled 83,000 units, down 14.1% y/y. YTD vehicle exports totaled 5.345 million units, up 21.2% y/y. Specifically, PV exports totaled 4.52 million units, up 21.5% y/y; CV exports totaled 826,000 units, up 19.3% y/y; and NEV exports totaled 1.141 million units, up 4.5% y/y.

New vehicle sales by type (Factory shipments)

	Nov. 2024			Jan.-Nov. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	124.3	37.5	9.5	1,025.7	36.7	0.1
MPV	12.0	3.6	27.7	91.6	3.3	-6.9
SUV	160.6	48.4	19.1	1,302.6	46.6	10.4
Mini Van	3.3	1.0	26.9	23.7	0.8	-1.0
Passenger Cars Total	300.1	90.5	15.2	2,443.5	87.5	5.0
Commercial Vehicles Total	31.5	9.5	-13.9	350.5	12.5	-4.4
Grand Total	331.6	100.0	11.7	2,794.0	100.0	3.7

Source:Created by MarkLines based on press release

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

	Nov. 2024			Jan.-Nov. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Chinese brands	205.15	68.3	32.2	1,588.59	65.0	22.1
Japanese brands	31.25	10.4	-15.8	275.86	11.3	-19.6
German brands	40.85	13.6	-3.7	370.02	15.1	-10.8
American brands	17.68	5.9	-13.3	157.06	6.4	-24.7
Korean brands	4.08	1.4	-0.7	38.78	1.6	7.0
French brands	0.94	0.3	18.6	9.24	0.4	-28.9

Source : MarkLines Data Center

China - Production of vehicles

	Nov. 2024			Jan.-Nov. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	126.2	36.7	8.9	1,027.7	36.8	-0.2
MPV	13.4	3.9	22.9	94.3	3.4	-5.2
SUV	168.2	48.9	19.1	1,299.6	46.6	9.1
Mini Van	3.1	0.9	24.0	24.3	0.9	2.8
Passenger Cars Total	310.9	90.5	14.9	2,445.9	87.7	4.3
Commercial Vehicles Total	32.7	9.5	-15.7	344.4	12.3	-6.2
Grand Total	343.7	100.0	11.1	2,790.3	100.0	2.9

Source:Created by MarkLines based on press release

Sales of NEV

	Nov. 2024			Jan.-Nov. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	90.8	60.1	29.3	673.8	59.8	15
PHV	60.4	39.9	86.8	451.9	40.1	85.2
FCV	0.04	0.03	-41.1	0.5	0.04	11.7
Total	151.2	100.0	47.4	1126.2	100.0	35.6

Source:CAAM, Each maker's press releases

Production of NEV

	Nov. 2024			Jan.-Nov. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	94.3	60.2	29.7	680.6	60.0	15.5
PHV	62.3	39.8	79.7	453.4	40.0	79.4
FCV	0.04	0.03	-45.5	0.5	0.04	8.9
Total	156.6	100.0	45.8	1134.5	100.0	34.6

Source:CAAM, Each maker's press releases

China - Top 10 best selling models

-	Maker/Brand	Model	Nov. 2024	Nov. 2023	Y-o-Y	Jan.- Nov. 2024	Jan.- Nov. 2023	Y-o-Y
1	BYD Auto	Seagull	56,459	44,603	26.6%	422,207	229,692	83.8%
2	BYD Auto	Song PLUS	53,806	41,377	30.0%	450,321	376,346	19.7%
3	BYD Auto	Qin L	50,500	-	-%	241,645	-	-%
4	Tesla	Model Y	46,595	58,433	-20.3%	494,705	584,687	-15.4%
5	BYD Auto	Haibao/Seal 06	40,530	-	-%	209,445	-	-%
6	Chery	Tiggo 7	37,518	25,924	44.7%	270,060	217,862	24.0%
7	Wuling	Wuling Hongguang MINIEV	37,236	24,027	55.0%	180,468	68,273	164.3%
8	Wuling	Wuling Bingo/Binguo	36,911	31,844	15.9%	167,731	184,756	-9.2%
9	BYD Auto	Qin PLUS	36,361	40,852	-11.0%	402,521	411,203	-2.1%
10	BYD Auto	Yuan PLUS	32,498	40,798	-20.3%	276,606	371,187	-25.5%

Source: MarkLines Data Center

*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	Nov. 2024 (10,000)	Y-o-Y
1	BYD Auto	41.7	58.6%
2	Geely Automobile	21.7	29.4%
3	Chery Automobile	15.8	65.0%
4	FAW-VW	14.7	-12.0%
5	Changan Automobile	14.4	21.1%
6	SAIC VW	12.3	5.9%
7	SAIC-GM-Wuling	11.6	39.6%
8	FAW Toyota	9.0	38.5%
9	Tesla	7.3	12.2%
10	Great Wall	7.3	-2.0%

Source: CPCA

Three Japanese OEMs release Chinese sales figures for November 2024, with only Toyota seeing growth y/y
Three Japanese OEMs recently announced their new car sales results in China for November 2024.
Toyota sold 176,000 units in November, up 7.0% year-over-year (y/y). Year-to-date (YTD) sales volume totaled 1,588,800 units, down 7.7% y/y.
On December 6, Honda announced that its November sales volume was 76,773 units, down 28.0% y/y. YTD sales volume totaled 740,399 units, down 30.7% y/y.
On December 6, Nissan announced that its November sales volume was 63,545 units, down 15.1% y/y. YTD sales volume totaled 621,713 units, down 10.5% y/y.

New vehicle sales by Japanese Makers

Maker/Brand	Nov. 2024	Y-o-Y	Jan.-Nov. 2024	Y-o-Y	Note	Update
Toyota	176,000	7.0%	1,588,800	-7.7%	Retail Sales, Including import vehicle sales	Dec. 9. 2024
Nissan	63,545	-15.1%	621,713	-10.5%	Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included.	Dec. 9. 2024
Honda	76,773	-28.0%	740,399	-30.7%	Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles)	Dec. 9. 2024
Mazda	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Mitsubishi	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Subaru	N/A	-%	N/A	-%	Retail Sales

Source: Releases by each company

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.

New vehicle sales by type (Factory shipments)

	Oct. 2024			Jan.-Oct. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	114.2	37.4	6.3	901.4	36.6	-1.1
MPV	10.0	3.3	-3.8	79.5	3.2	-9.9
SUV	148.7	48.7	15.9	1,142.0	46.4	9.3
Mini Van	2.6	0.9	0.0	20.5	0.8	-4.4
Passenger Cars Total	275.5	90.2	10.7	2,143.4	87.0	3.7
Commercial Vehicles Total	29.8	9.8	-18.3	319.0	13.0	-3.4
Grand Total	305.3	100.0	7.0	2,462.4	100.0	2.7

Source:Created by MarkLines based on press release

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

	Oct. 2024			Jan.-Oct. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Chinese brands	192.57	69.9	29.7	1,383.44	64.6	20.7
Japanese brands	27.98	10.2	-24.0	244.62	11.4	-20.1
German brands	36.53	13.3	-8.0	329.18	15.4	-11.6
American brands	13.87	5.0	-27.0	139.39	6.5	-25.9
Korean brands	3.44	1.2	-4.5	34.70	1.6	7.9
French brands	0.84	0.3	16.5	8.30	0.4	-32.0

Source : MarkLines Data Center

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

Source:Created by MarkLines based on press release

Sales of NEV

	Oct. 2024			Jan.-Oct. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	84.2	58.9	30.4	583.0	59.8	13
PHV	58.7	41.0	89.7	391.5	40.2	85.0
FCV	0.1	0.07	181.2	0.5	0.05	27.4
Total	143.0	100.0	49.6	975.0	100.0	33.9

Source:CAAM, Each maker's press releases

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

Source:CAAM, Each maker's press releases

China - Top 10 best selling models

-	Maker/Brand	Model	Oct. 2024	Oct. 2023	Y-o-Y	Jan.- Oct. 2024	Jan.- Oct. 2023	Y-o-Y
1	BYD Auto	Seagull	54,081	43,350	24.8%	365,748	185,089	97.6%
2	BYD Auto	Song PLUS	51,415	41,194	24.8%	396,515	334,969	18.4%
3	BYD Auto	Qin L	50,087	-	-%	191,145	-	-%
4	BYD Auto	Haibao/Seal 06	45,900	-	-%	168,915	-	-%
5	Tesla	Model Y	42,265	47,164	-10.4%	448,110	526,254	-14.8%
6	BYD Auto	Qin PLUS	36,222	40,766	-11.1%	366,160	370,351	-1.1%
7	BYD Auto	Yuan PLUS	32,447	40,019	-18.9%	244,108	330,389	-26.1%
8	BYD Auto	Song Pro	31,780	22,771	39.6%	217,181	159,863	35.9%
9	BYD Auto	Song L	31,543	-	-%	138,775	-	-%
10	Wuling	Wuling Hongguang MINIEV	31,140	8,367	272.2%	143,232	44,246	223.7%

Passenger Car retail sales by Chinese Makers Top10

-	Maker	Oct. 2024 (10,000)	Y-o-Y
1	BYD Auto	43.1	67.2%
2	Geely Automobile	19.4	29.8%
3	Chery Automobile	14.4	59.5%
4	FAW-VW	14.1	-7.9%
5	Changan Automobile	13.1	-5.4%
6	SAIC VW	12.0	7.9%
7	SAIC-GM-Wuling	10.9	33.4%
8	GAC Toyota	7.9	-6.3%
9	FAW Toyota	7.6	13.4%
10	Great Wall	6.4	-22.4%

Source: CPCA

Three Japanese OEMs’ October 2024 sales in China down y/y
Three Japanese OEMs recently announced their sales results in China for October 2024.
Toyota sold 172,300 units in October, down 0.4% year-over-year (y/y). Year-to-date (YTD) sales volume totaled 1,412,900 units, down 9.3% y/y.
On November 7, Honda announced that its October sales volume was 75,440 units, down 42.2% y/y. YTD sales volume totaled 663,626 units, down 31.0% y/y.
On November 6, Nissan announced that its October sales volume was 61,170 units, down 16.5% y/y. YTD sales volume totaled 558,168 units, down 10.0% y/y.

New vehicle sales by Japanese Makers

Maker/Brand	Oct. 2024	Y-o-Y	Jan.-Oct. 2024	Y-o-Y	Note	Update
Toyota	172,300	-0.4%	1,412,900	-9.3%	Retail Sales, Including import vehicle sales	Nov. 7. 2024
Nissan	61,170	-16.5%	558,168	-10.0%	Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included.	Nov. 7. 2024
Honda	75,440	-42.2%	663,626	-31.0%	Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles)	Nov. 8. 2024
Mazda	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Mitsubishi	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Subaru	N/A	-%	N/A	-%	Retail Sales

Source: Releases by each company

Flash report, September 2024

Oct 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 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.

New vehicle sales by type (Factory shipments)

	Sep. 2024			Jan.-Sep. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	105.3	37.5	-2.0	787.2	36.5	-1.6
MPV	8.9	3.2	-22.6	69.6	3.2	-10.6
SUV	136.2	48.5	7.0	993.3	46.0	8.3
Mini Van	2.1	0.7	-12.5	17.9	0.8	-4.8
Passenger Cars Total	252.5	89.9	1.5	1,867.9	86.6	3.0
Commercial Vehicles Total	28.4	10.1	-23.5	289.2	13.4	-1.6
Grand Total	280.9	100.0	-1.7	2,157.1	100.0	2.4

Source:Created by MarkLines based on press release

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

	Sep. 2024			Jan.-Sep. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Chinese brands	170.23	67.4	21.2	1,190.87	63.8	19.4
Japanese brands	26.99	10.7	-27.5	216.64	11.6	-19.6
German brands	35.28	14.0	-20.3	292.64	15.7	-12.0
American brands	14.83	5.9	-30.6	125.52	6.7	-25.8
Korean brands	3.85	1.5	-1.4	31.27	1.7	9.5
French brands	1.04	0.4	-1.6	7.47	0.4	-35.0

Source : MarkLines Data Center

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

Source:Created by MarkLines based on press release

Sales of NEV

	Sep. 2024			Jan.-Sep. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	77.5	60.2	23.8	498.8	60.0	11.6
PHV	51.1	39.7	84.2	332.8	40.0	84.2
FCV	0.0	0.0	1,400.0	0.4	0.1	44.0
Total	128.7	100.0	42.3	832.0	100.0	32.5

Source:CAAM, Each maker's press releases

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

Source:CAAM, Each maker's press releases

China - Top 10 best selling models

-	Maker/Brand	Model	Sep. 2024	Sep. 2023	Y-o-Y	Jan.- Sep. 2024	Jan.- Sep. 2023	Y-o-Y
1	Tesla	Model Y	51,152	53,249	-3.9%	405,845	479,090	-15.3%
2	BYD Auto	Seagull	43,425	40,092	8.3%	311,667	141,739	119.9%
3	BYD Auto	Song PLUS	43,010	40,165	7.1%	345,100	293,775	17.5%
4	BYD Auto	Qin L	43,006	-	-%	141,058	-	-%
5	BYD Auto	Haibao/Seal 06	42,300	-	-%	123,015	-	-%
6	Tesla	Model 3	37,169	20,824	78.5%	269,913	219,966	22.7%
7	BYD Auto	Qin PLUS	32,540	43,002	-24.3%	329,938	329,585	0.1%
8	BYD Auto	Yuan PLUS	31,515	31,672	-0.5%	211,661	290,370	-27.1%
9	BYD Auto	Song L	30,305	-	-%	107,232	-	-%
10	Geely	Xing Yue L	28,913	19,154	51.0%	183,627	123,693	48.5%

Source: MarkLines Data Center

Passenger Car retail sales by Chinese Makers Top10

-	Maker	Sep. 2024 (10,000)	Y-o-Y
1	BYD Auto	38.7	50.1%
2	Geely Automobile	16.3	15.4%
3	FAW-VW	14.5	-14.6%
4	Chery Automobile	12.6	48.1%
5	SAIC VW	10.7	-6.8%
6	Changan Automobile	10.6	-15.7%
7	SAIC-GM-Wuling	9.6	32.8%
8	FAW Toyota	7.4	-5.0%
9	Tesla	7.2	66.0%
10	GAC Toyota	7.1	-15.1%

Source: CPCA

Three Japanese OEMs’ September 2024 sales in China down y/y
Three Japanese OEMs recently announced their sales results in China for September 2024.
Toyota sold 160,500 units in September, down 9.2% year-over-year (y/y). Year-to-date (YTD) sales volume totaled 1,240,600 units, down 10.4% y/y.
On October 10, Honda announced that its September sales volume was 62,754 units, down 42.8% y/y. YTD sales volume totaled 588,186 units, down 29.2% y/y.
On September 10, Nissan announced that its September sales volume was 61,395 units, down 3.8% y/y. YTD sales volume totaled 496,998 units, down 9.1% y/y.

New vehicle sales by Japanese Makers

Maker/Brand	Sep. 2024	Y-o-Y	Jan.-Sep. 2024	Y-o-Y	Note	Update
Toyota	160,500	-9.2%	1,240,600	-10.4%	Retail Sales, Including import vehicle sales	Oct. 11. 2024
Nissan	61,395	-3.8%	496,998	-9.1%	Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included.	Oct. 11. 2024
Honda	62,754	-42.8%	588,186	-29.2%	Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles)	Oct. 18. 2024
Mazda	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Mitsubishi	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Subaru	N/A	-%	N/A	-%	Retail Sales

Source: Releases by each company

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.

New vehicle sales by type (Factory shipments)

	Aug. 2024			Jan.-Aug. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	89.1	36.3	-10.1	682.2	36.4	-1.4
MPV	8.0	3.3	-14.0	60.7	3.2	-8.4
SUV	119.0	48.5	1.7	857.1	45.7	8.6
Mini Van	2.1	0.9	10.5	15.8	0.8	-3.9
Passenger Cars Total	218.1	88.9	-4.0	1,615.7	86.1	3.3
Commercial Vehicles Total	27.2	11.1	-12.2	260.8	13.9	1.6
Grand Total	245.3	100.0	-5.0	1,876.6	100.0	3.0

Source:Created by MarkLines based on press release

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

	Aug. 2024			Jan.-Aug. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Chinese brands	145.94	66.9	12.4	1,020.64	63.2	19.1
Japanese brands	22.74	10.4	-27.8	189.65	11.7	-18.3
German brands	30.76	14.1	-23.2	257.37	15.9	-10.8
American brands	13.80	6.3	-32.9	110.69	6.9	-25.1
Korean brands	3.55	1.6	-3.0	27.42	1.7	11.2
French brands	1.01	0.5	-11.5	6.42	0.4	-38.4

Source : MarkLines Data Center

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

Source:Created by MarkLines based on press release

Sales of NEV

	Aug. 2024			Jan.-Aug. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	64.6	58.7	8.3	421.6	59.9	9.7
PHV	45.3	41.2	81.6	281.7	40.0	84.2
FCV	0.1	0.09	216.9	0.4	0.06	37.4
Total	110	100.0	30.0	703.7	100.0	30.9

Source:CAAM, Each maker's press releases

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

Source:CAAM, Each maker's press releases

China - Top 10 best selling models

-	Maker/Brand	Model	Aug. 2024	Aug. 2023	Y-o-Y	Jan.- Aug. 2024	Jan.- Aug. 2023	Y-o-Y
1	Tesla	Model Y	56,309	65,316	-13.8%	354,693	425,841	-16.7%
2	BYD Auto	Seagull	40,949	34,841	17.5%	268,242	101,647	163.9%
3	BYD Auto	Song PLUS	40,487	36,940	9.6%	302,090	253,610	19.1%
4	BYD Auto	Haibao/Seal 06	40,015	-	-%	80,715	-	-%
5	BYD Auto	Qin L	40,011	-	-%	98,052	-	-%
6	Tesla	Model 3	30,388	18,843	61.3%	232,744	199,142	16.9%
7	BYD Auto	Qin PLUS	30,172	42,808	-29.5%	297,398	286,583	3.8%
8	BYD Auto	Yuan PLUS	30,061	30,772	-2.3%	180,146	258,698	-30.4%
9	VW	Lavida	26,186	34,722	-24.6%	177,660	210,561	-15.6%
10	BYD Auto	Song L	26,025	-	-%	76,927	-	-%

Source: MarkLines Data Center

Passenger Car retail sales by Chinese Makers Top10

-	Maker	Aug. 2024 (10,000)	Y-o-Y
1	BYD Auto	38.0	57.1%
2	Geely Automobile	13.6	7.7%
3	FAW-VW	12.8	-17.7%
4	Chery Automobile	11.0	55.5%
5	SAIC VW	10.0	-9.1%
6	Changan Automobile	9.9	-17.6%
7	SAIC-GM-Wuling	8.5	23.9%
8	FAW Toyota	7.2	-5.1%
9	Tesla	6.3	-1.9%
10	GAC Toyota	6.3	-21.0%

Source: CPCA

Three Japanese OEMs’ August 2024 sales in China down y/y
Three Japanese OEMs recently announced their sales results in China for August 2024.
Toyota sold 152,100 units in August, down 13.5% year-over-year (y/y). Year-to-date (YTD) sales volumes totaled 1,080,100 units, down 10.6% y/y.
On September 4, Honda announced that its August sales volume was 56,959 units, down 44.3% y/y. YTD sales volumes totaled 525,432 units, down 27.2% y/y.
On September 6, Nissan announced that its August sales volume was 49,204 units, down 24.2% y/y. YTD sales volumes totaled 435,603 units, down 9.8% y/y.

New vehicle sales by Japanese Makers

Maker/Brand	Aug. 2024	Y-o-Y	Jan.-Aug. 2024	Y-o-Y	Note	Update
Toyota	152,100	-13.5%	1,080,100	-10.6%	Retail Sales, Including import vehicle sales	Sep. 9. 2024
Nissan	49,204	-24.2%	435,603	-9.8%	Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included.	Sep. 9. 2024
Honda	56,959	-44.3%	525,432	-27.2%	Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles)	Sep. 9. 2024
Mazda	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Mitsubishi	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Subaru	N/A	-%	N/A	-%	Retail Sales

Source: Releases by each company

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.

New vehicle sales by type (Factory shipments)

	Jul. 2024			Jan.-Jul. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	83.2	36.8	-9.9	592.9	36.4	0.0
MPV	7.1	3.1	-16.5	52.7	3.2	-7.4
SUV	107.5	47.5	0.3	738.1	45.3	9.7
Mini Van	1.6	0.7	-20.0	13.7	0.8	-5.4
Passenger Cars Total	199.4	88.2	-5.1	1,397.4	85.7	4.5
Commercial Vehicles Total	26.8	11.8	-6.6	233.6	14.3	3.5
Grand Total	226.2	100.0	-5.2	1,631.0	100.0	4.4

Source:Created by MarkLines based on press release

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

	Jul. 2024			Jan.-Jul. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Chinese brands	132.42	66.4	9.5	874.70	62.6	20.3
Japanese brands	20.92	10.5	-28.9	166.91	11.9	-16.8
German brands	29.81	15.0	-19.7	226.61	16.2	-8.8
American brands	12.00	6.0	-34.1	96.89	6.9	-23.9
Korean brands	2.94	1.5	3.4	23.87	1.7	13.7
French brands	0.92	0.5	-18.1	5.41	0.4	-41.7

Source : MarkLines Data Center

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

Source:Created by MarkLines based on press release

Sales of NEV

	Jul. 2024			Jan.-Jul. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	55.1	55.6	2.6	357.0	60.2	10.1
PHV	43.8	44.2	80.7	236.1	39.8	84.5
FCV	0.1	0.10	181.2	0.3	0.05	25.5
Total	99.1	100.0	27.0	593.4	100.0	31.1

Source:CAAM, Each maker's press releases

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

Source:CAAM, Each maker's press releases

China - Top 10 best selling models

-	Maker/Brand	Model	Jul. 2024	Jul. 2023	Y-o-Y	Jan.- Jul. 2024	Jan.- Jul. 2023	Y-o-Y
1	Tesla	Model Y	41,405	43,961	-5.8%	298,384	360,525	-17.2%
2	BYD Auto	Qin PLUS	40,311	42,155	-4.4%	267,226	243,775	9.6%
3	BYD Auto	Song PLUS	36,947	32,458	13.8%	261,603	216,670	20.7%
4	BYD Auto	Seagull	36,256	28,001	29.5%	227,293	66,806	240.2%
5	BYD Auto	Qin L	32,941	-	-%	58,041	-	-%
6	Tesla	Model 3	32,712	20,324	61.0%	202,356	180,299	12.2%
7	BYD Auto	Yuan PLUS	30,286	30,101	0.6%	150,085	227,926	-34.2%
8	BYD Auto	Chaser 05	25,558	11,994	113.1%	163,745	51,900	215.5%
9	BYD Auto	Haibao/Seal 06	25,200	-	-%	40,700	-	-%
10	Li Auto	Li L6	24,856	-	-%	64,066	-	-%

Passenger Car retail sales by Chinese Makers Top10

-	Maker	Jul. 2024 (10,000)	Y-o-Y
1	BYD Auto	31.2	35.0%
2	Geely Automobile	11.8	3.8%
3	FAW-VW	11.4	-22.6%
4	Chery Automobile	9.8	51.0%
5	SAIC VW	8.8	-11.8%
6	Changan Automobile	8.6	-27.0%
7	FAW Toyota	6.6	4.7%
8	SAIC-GM-Wuling	6.3	-7.1%
9	GAC Toyota	5.9	-17.1%
10	Li Auto	5.1	49.4%

Source: CPCA

Three Japanese OEMs’ July 2024 sales in China down y/y
Three Japanese OEMs recently announced their sales results in China for July 2024.
Toyota sold 143,400 units in July, down 6.1% year-over-year (y/y). Year-to-date (YTD) sales volumes totaled 928,100 units, down 10.1% y/y.
On August 5, Honda announced that its July sales volume was 52,567 units, down 41.4% y/y. YTD sales volumes totaled 468,473 units, down 24.4% y/y.
On August 6, Nissan announced that its July sales volume was 47,102 units, down 20.8% y/y. YTD sales volumes totaled 386,399 units, down 7.6% y/y.

New vehicle sales by Japanese Makers

Maker/Brand	Jul. 2024	Y-o-Y	Jan.-Jul. 2024	Y-o-Y	Note	Update
Toyota	143,400	-6.1%	928,100	-10.1%	Retail Sales, Including import vehicle sales	Aug. 7. 2024
Nissan	47,102	-20.8%	386,399	-7.6%	Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included.	Aug. 7. 2024
Honda	52,567	-41.4%	468,473	-24.4%	Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles)	Aug. 7. 2024
Mazda	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Mitsubishi	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Subaru	N/A	-%	N/A	-%	Retail Sales

Source: Releases by each company

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.

New vehicle sales by type (Factory shipments)

	Jun. 2024			Jan.-Jun. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	94.7	37.1	-5.1	509.6	36.3	1.8
MPV	9.0	3.5	1.1	45.6	3.2	-5.9
SUV	115.2	45.1	-0.7	630.6	44.9	11.5
Mini Van	2.6	1.0	23.8	12.1	0.9	-3.3
Passenger Cars Total	221.5	86.8	-2.3	1,197.9	85.3	6.3
Commercial Vehicles Total	33.7	13.2	-4.9	206.8	14.7	4.9
Grand Total	255.2	100.0	-2.7	1,404.7	100.0	6.1

Source:Created by MarkLines based on press release

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

	Jun. 2024			Jan.-Jun. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Chinese brands	142.93	64.5	17.2	742.28	62.0	22.4
Japanese brands	25.35	11.4	-25.7	145.98	12.2	-14.7
German brands	34.49	15.6	-19.6	196.80	16.4	-6.8
American brands	13.08	5.9	-41.1	84.89	7.1	-22.2
Korean brands	4.08	1.8	2.9	20.93	1.7	15.3
French brands	1.12	0.5	-8.5	4.50	0.4	-45.0

Source : MarkLines Data Center

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

Source:Created by MarkLines based on press release

Sales of NEV

	Jun. 2024			Jan.-Jun. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	61.2	58.3	7.4	301.9	61.1	11.6
PHV	43.6	41.6	85.1	192.2	38.9	85.2
FCV	0.1	0.10	11.4	0.3	0.06	7.1
Total	104.9	100.0	30.1	494.4	100.0	32.0

Source:CAAM, Each maker's press releases

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

Source:CAAM, Each maker's press releases

China - Top 10 best selling 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	47,978	42,086	14.0%	226,915	201,620	12.5%
2	BYD Auto	Song PLUS	45,561	25,935	75.7%	224,656	184,212	22.0%
3	Tesla	Model Y	43,951	63,043	-30.3%	256,979	316,564	-18.8%
4	BYD Auto	Seagull	36,066	23,005	56.8%	191,037	38,805	392.3%
5	BYD Auto	Chaser 05	32,980	10,222	222.6%	138,187	39,906	246.3%
6	Nissan	Bluebird Sylphy/Sylphy	27,644	24,484	12.9%	124,682	118,451	5.3%
7	Tesla	Model 3	27,056	30,637	-11.7%	169,644	159,975	6.0%
8	BYD Auto	Yuan PLUS	26,073	30,012	-13.1%	119,799	197,825	-39.4%
9	Li Auto	Li L6	23,864	-	-%	39,210	-	-%
10	Chery	Tiggo 7	23,023	19,217	19.8%	136,327	107,822	26.4%

Passenger Car retail sales by Chinese Makers Top10

-	Maker	Jun. 2024 (10,000)	Y-o-Y
1	BYD Auto	28.0	21.1%
2	FAW-VW	13.3	-25.5%
3	Geely Automobile	13.1	17.0%
4	Chery Automobile	9.2	53.6%
5	Changan Automobile	8.8	-25.4%
6	SAIC VW	8.3	-15.9%
7	GAC Toyota	7.0	-19.2%
8	FAW Toyota	6.3	-10.5%
9	Tesla	5.9	-20.1%
10	BMW Brilliance	5.6	-5.8%

Source: CPCA

Three Japanese OEMs’ Chinese sales figures for June 2024 all drop y/y
Three Japanese OEMs recently announced their sales results in China for June 2024.
Toyota sold 152,100 units in June, down 12.9% year-over-year (y/y). Year-to-date (YTD) sales volumes totaled 784,600 units, down 10.8% y/y.
On July 3, Honda announced that its June sales volume was 68,966 units, down 39.0% y/y. YTD sales volumes totaled 415,906 units, down 21.5% y/y.
On July 8, Nissan announced that its June sales volume was 52,852 units, down 23.6% y/y. YTD sales volumes totaled 339,297 units, down 5.4% y/y.

New vehicle sales by Japanese Makers

Maker/Brand	Jun. 2024	Y-o-Y	Jan.-Jun. 2024	Y-o-Y	Note	Update
Toyota	152,100	-12.9%	784,600	-10.8%	Retail Sales, Including import vehicle sales	Jul. 9. 2024
Nissan	52,852	-23.6%	339,297	-5.4%	Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included.	Jul. 9. 2024
Honda	68,966	-39.0%	415,906	-21.5%	Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles)	Jul. 9. 2024
Mazda	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Mitsubishi	N/A	-%	N/A	-%	Retail Sales, Including import vehicle sales
Subaru	N/A	-%	N/A	-%	Retail Sales

Source: Releases by each company

Flash report, May 2024

Jun 14, 2024

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.

New vehicle sales by type (Factory shipments)

	May 2024			Jan.-May 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	86.9	36.0	-5.1	414.9	36.1	3.6
MPV	7.7	3.2	-14.4	36.6	3.2	-7.6
SUV	109.8	45.4	7.3	515.5	44.8	14.7
Mini Van	3.1	1.3	40.9	9.5	0.8	-8.9
Passenger Cars Total	207.5	85.9	1.2	976.5	84.9	8.5
Commercial Vehicles Total	34.1	14.1	3.3	173.1	15.1	7.1
Grand Total	241.7	100.0	1.5	1,149.6	100.0	8.3

Source:Created by MarkLines based on press release

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

	May 2024			Jan.-May 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Chinese brands	132.17	63.7	18.4	599.35	61.4	23.7
Japanese brands	24.78	11.9	-19.6	120.63	12.4	-12.0
German brands	31.40	15.1	-15.8	162.31	16.6	-3.6
American brands	14.48	7.0	-28.3	71.82	7.4	-17.3
Korean brands	3.67	1.8	26.9	16.86	1.7	18.7
French brands	0.68	0.3	-63.5	3.38	0.3	-51.4

Source : MarkLines Data Center

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

Source:Created by MarkLines based on press release

Sales of NEV

	May 2024			Jan.-May 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	58.3	61.0	12.5	240.7	61.8	12.7
PHV	37.1	38.8	87.7	148.6	38.2	85.2
FCV	0.04	0.04	5.2	0.2	0.05	4.3
Total	95.5	100.0	33.3	389.5	100.0	32.5

Source:CAAM, Each maker's press releases

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

Source:CAAM, Each maker's press releases

China - Top 10 best selling 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	51,613	41,407	24.6%	178,937	159,534	12.2%
2	Tesla	Model Y	45,359	50,480	-10.1%	213,028	253,521	-16.0%
3	BYD Auto	Song PLUS	44,907	24,329	84.6%	179,095	158,277	13.2%
4	BYD Auto	Seagull	35,370	14,300	147.3%	154,971	15,800	880.8%
5	BYD Auto	Song Pro	33,015	13,501	144.5%	123,867	58,164	113.0%
6	BYD Auto	Chaser 05	32,883	10,457	214.5%	105,207	29,684	254.4%
7	Tesla	Model 3	27,214	27,215	0.0%	142,588	129,338	10.2%
8	BYD Auto	Yuan PLUS	25,501	31,410	-18.8%	93,726	167,813	-44.1%
9	Chery	Tiggo 7	23,789	18,976	25.4%	113,304	88,605	27.9%
10	VW	Lavida	22,346	32,344	-30.9%	105,118	113,971	-7.8%

Passenger Car retail sales by Chinese Makers Top10

-	Maker	May 2024 (10,000)	Y-o-Y
1	BYD Auto	26.8	21.5%
2	FAW-VW	12.4	-17.5%
3	Geely Automobile	12.4	31.6%
4	Changan Automobile	9.6	-12.7%
5	Chery Automobile	8.9	59.3%
6	SAIC VW	8.4	-11.9%
7	GAC Toyota	7.0	-10.2%
8	SAIC-GM-Wuling	6.3	-12.0%
9	Dongfeng Nissan	6.2	-0.9%
10	BMW Brilliance	5.5	-3.2%

Source: CPCA

Three Japanese OEMs’ Chinese sales figures for May 2024 all drop y/y
Three Japanese OEMs recently announced their sales results in China for May 2024.
Toyota sold 140,400 units in May, down 13.6% year-over-year (y/y). Year-to-date (YTD) sales volumes totaled 632,600 units, down 10.3% y/y.
On June 5, Honda announced that its May sales volume was 66,202 units, down 34.7% y/y. YTD sales volumes totaled 346,940 units, down 16.7% y/y.
On June 7, Nissan announced that its May sales volume was 64,233 units, down 2.8% y/y. YTD sales volumes totaled 286,445 units, down 1.0% y/y.

New vehicle sales by Japanese Makers

Maker/Brand	May 2024	Y-o-Y	Jan.-May 2024	Y-o-Y	Note	Update
Toyota	140,400	-13.6%	632,600	-10.3%	Retail Sales, Including import vehicle sales	Jun. 11. 2024
Nissan	64,233	-2.8%	286,445	-1.0%	Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included.	Jun. 11. 2024
Honda	66,202	-34.7%	346,940	-16.7%	Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles)	Jun. 11. 2024
Mazda	TBA	-%	TBA	-%	Retail Sales, Including import vehicle sales
Mitsubishi	TBA	-%	TBA	-%	Retail Sales, Including import vehicle sales
Subaru	TBA	-%	TBA	-%	Retail Sales

Source: Releases by each company

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.

New vehicle sales by type (Factory shipments)

	Apr. 2024			Jan.-Apr. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	85.6	36.3	6.7	328.1	36.1	6.1
MPV	8.2	3.5	-9.9	28.9	3.2	-5.5
SUV	103.7	44.0	16.0	405.5	44.7	16.9
Mini Van	2.6	1.1	8.3	6.4	0.7	-22.3
Passenger Cars Total	200.1	84.8	10.5	768.9	84.7	10.6
Commercial Vehicles Total	35.7	15.1	2.8	139.0	15.3	8.1
Grand Total	235.9	100.0	9.3	907.9	100.0	10.2

Source:Created by MarkLines based on press release

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

	Apr. 2024			Jan.-Apr. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Chinese brands	127.37	63.6	26.5	467.18	60.8	25.3
Japanese brands	22.24	11.1	-10.1	95.85	12.5	-9.8
German brands	31.41	15.7	-3.8	130.91	17.0	-0.1
American brands	14.77	7.4	-18.4	57.34	7.5	-14.0
Korean brands	3.25	1.6	25.8	13.19	1.7	16.5
French brands	0.72	0.4	-61.5	2.70	0.4	-46.9

Source : MarkLines Data Center

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

Source:Created by MarkLines based on press release

Sales of NEV

	Apr. 2024			Jan.-Apr. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	51.9	61.1	11.1	182.4	62.0	12.8
PHV	33.1	38.9	95.7	111.5	37.9	84.5
FCV	0.03	0.04	-5.9	0.1	0.03	8.4
Total	85.0	100.0	33.5	294.0	100.0	32.3

Source:CAAM, Each maker's press releases

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

Source:CAAM, Each maker's press releases

China - Top 10 best selling 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	50,557	40,003	26.4%	127,324	118,127	7.8%
2	BYD Auto	Song PLUS	43,738	27,736	57.7%	134,188	133,948	0.2%
3	BYD Auto	Seagull	34,832	1,500	2222.1%	119,601	1,500	7873.4%
4	BYD Auto	Chaser 05	32,800	5,380	509.7%	72,324	19,227	276.2%
5	BYD Auto	Song Pro	32,037	8,100	295.5%	90,852	44,663	103.4%
6	Tesla	Model Y	31,962	49,059	-34.8%	167,669	203,041	-17.4%
7	Tesla	Model 3	30,205	26,783	12.8%	115,374	102,123	13.0%
8	Chery	Tiggo 7	26,368	18,720	40.9%	89,515	69,629	28.6%
9	BYD Auto	Yuan PLUS	22,001	39,160	-43.8%	68,225	136,403	-50.0%
10	BYD Auto	Han	21,509	14,329	50.1%	60,301	52,438	15.0%

Passenger Car retail sales by Chinese Makers Top10

-	Maker	Apr. 2024 (10,000)	Y-o-Y
1	BYD Auto	25.4	31.1%
2	FAW-VW	11.9	-15.6%
3	Geely Automobile	11.6	31.2%
4	Changan Automobile	8.3	-17.9%
5	Chery Automobile	7.9	59.9%
6	SAIC VW	7.8	-21.7%
7	SAIC-GM-Wuling	5.4	-17.1%
8	GAC Toyota	5.2	-32.1%
9	Dongfeng Nissan	5.2	-9.6%
10	FAW Toyota	4.9	-31.3%

Source: CPCA

Three Japanese OEMs’ Chinese sales figures for April 2024 all drop y/y
Three Japanese OEMs recently announced their sales results in China for April 2024.
Toyota sold 118,200 units in April, down 27.3% year-over-year (y/y). Year-to-date (YTD) sales volumes totaled 492,200 units, down 9.3% y/y.
On May 8, Honda announced that its April sales volume was 73,831 units, down 22.2% y/y. GAC Honda sold 33,510 units. Monthly sales volume of the Accord exceeded 10,000 units. Dongfeng Honda sold 40,321 units. Monthly sales volume of the CR-V exceeded 15,000 units, while monthly sales volume of the Civic exceeded 10,000 units. YTD sales volumes totaled 280,738 units, down 10.9% y/y. Specifically, GAC Honda and Dongfeng Honda sold 141,871 units and 138,867 units, respectively.
On May 8, Nissan announced that its April sales volume was 54,921 units, down 10.4% y/y. YTD sales volumes totaled 222,212 units, down 0.5% y/y.

New vehicle sales by Japanese Makers

Maker/Brand	Apr. 2024	Y-o-Y	Jan.-Apr. 2024	Y-o-Y	Note	Update
Toyota	118,200	-27.3%	492,200	-9.3%	Retail Sales, Including import vehicle sales	May 10. 2024
Nissan	54,921	-10.4%	222,212	-0.5%	Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included.	May 9. 2024
Honda	73,831	-22.2%	280,738	-10.9%	Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles)	May 9. 2024
Mazda	TBA	-%	TBA	-%	Retail Sales, Including import vehicle sales
Mitsubishi	TBA	-%	TBA	-%	Retail Sales, Including import vehicle sales
Subaru	TBA	-%	TBA	-%	Retail Sales

Source: Releases by each company

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.

New vehicle sales by type (Factory shipments)

	Mar. 2024			Jan.-Mar. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	97.5	36.2	6.8	242.4	36.1	5.9
MPV	9.7	3.6	7.8	20.7	3.1	-3.9
SUV	114.6	42.5	15.4	301.8	44.9	17.2
Mini Van	1.8	0.7	-14.3	3.8	0.6	-35.8
Passenger Cars Total	223.6	83.0	10.9	568.7	84.6	10.7
Commercial Vehicles Total	45.8	17.0	5.6	103.3	15.4	10.1
Grand Total	269.4	100.0	9.9	672.0	100.0	10.6

Source:Created by MarkLines based on press release

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

	Mar. 2024			Jan.-Mar. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Chinese brands	132.90	59.4	25.0	339.81	59.8	24.9
Japanese brands	28.80	12.9	-13.4	73.62	13.0	-9.7
German brands	38.37	17.2	-0.5	99.50	17.5	1.1
American brands	18.45	8.3	3.3	42.57	7.5	-12.3
Korean brands	4.05	1.8	10.7	9.94	1.7	13.9
French brands	0.72	0.3	-54.8	1.97	0.3	-38.3

Source : MarkLines Data Center

China - Production of vehicles

	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

Source:Created by MarkLines based on press release

Sales of NEV

	Mar. 2024			Jan.-Mar. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	56.6	64.1	15.5	130.5	62.4	13.3
PHV	31.7	35.9	95.1	78.4	37.5	81.2
FCV	0.02	0.02	-52.2	0.1	0.05	14.7
Total	88.3	100.0	35.3	209.0	100.0	31.8

Source:CAAM, Each maker's press releases

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

Source:CAAM, Each maker's press releases

China - Top 10 best selling models

-	Maker/Brand	Model	Mar. 2024	Mar. 2023	Y-o-Y	Jan.- Mar. 2024	Jan.- Mar. 2023	Y-o-Y
1	Tesla	Model Y	57,586	61,667	-6.6%	135,707	153,982	-11.9%
2	BYD Auto	Song PLUS	41,569	32,510	27.9%	90,450	106,212	-14.8%
3	BYD Auto	Qin PLUS	40,038	39,100	2.4%	76,767	78,124	-1.7%
4	BYD Auto	Seagull	34,830	-	-%	84,769	-	-%
5	Tesla	Model 3	31,478	27,202	15.7%	85,169	75,340	13.0%
6	BYD Auto	Song Pro	30,309	8,000	278.9%	58,815	36,563	60.9%
7	BYD Auto	Chaser 05	28,964	3,911	640.6%	39,524	13,847	185.4%
8	VW	Sagitar	25,653	18,571	38.1%	67,268	61,776	8.9%
9	Changan/Chana	CS75	24,878	20,685	20.3%	65,915	52,934	24.5%
10	Chery	Tiggo 7	22,588	18,734	20.6%	63,147	50,909	24.0%

Passenger Car retail sales by Chinese Makers Top10

-	Maker	Mar. 2024 (10,000)	Y-o-Y
1	BYD Auto	26.0	35.4%
2	FAW-VW	14.1	-4.2%
3	Geely Automobile	11.4	28.9%
4	Changan Automobile	10.5	10.9%
5	SAIC VW	8.7	3.9%
6	Chery Automobile	7.5	62.6%
7	SAIC-GM-Wuling	6.8	3.1%
8	Tesla	6.2	-18.6%
9	Beijing Benz Automotive	6.1	22.2%
10	FAW Toyota	5.8	-7.2%

Source: CPCA

Three Japanese OEMs release Chinese sales figures for March 2024, with only Nissan seeing growth y/y
Three Japanese OEMs recently announced their sales results in China for March 2024.
Toyota sold 132,200 units in March, down 3.1% year-over-year (y/y). Year-to-date (YTD) sales volumes totaled 374,200 units, down 1.5% y/y.
On April 3, Honda announced that its March sales volume was 60,449 units, down 26.3% y/y. YTD sales volumes totaled 206,907 units, down 6.1% y/y. Specifically, GAC Honda and Dongfeng Honda sold 108,361 units and 98,546 units, respectively.
On April 8, Nissan announced that its March sales volume was 59,914 units, up 10.0% y/y. YTD sales volumes totaled 167,291 units, up 3.3% y/y.

New vehicle sales by Japanese Makers

Maker/Brand	Mar. 2024	Y-o-Y	Jan.-Mar. 2024	Y-o-Y	Note	Update
Toyota	132,200	-3.1%	374,200	-1.5%	Retail Sales, Including import vehicle sales	Apr. 9. 2024
Nissan	59,914	10.0%	167,291	3.3%	Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included.	Apr. 9. 2024
Honda	60,449	-26.3%	206,907	-6.1%	Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles)	Apr. 9. 2024
Mazda	TBA	-%	TBA	-%	Retail Sales, Including import vehicle sales
Mitsubishi	TBA	-%	TBA	-%	Retail Sales, Including import vehicle sales
Subaru	TBA	-%	TBA	-%	Retail Sales

Source: Releases by each company

Flash report, February 2024

Mar 8, 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.

New vehicle sales by type (Factory shipments)

	Feb. 2024			Jan.-Feb. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Sedan/Hatchback	55.7	35.2	-23.8	144.9	36.0	5.4
MPV	4.2	2.7	-40.0	10.9	2.7	-12.3
SUV	72.2	45.6	-12.4	187.3	46.5	18.3
Mini Van	1.2	0.8	-55.6	2.0	0.5	-49.0
Passenger Cars Total	133.3	84.2	-19.4	345.1	85.7	10.6
Commercial Vehicles Total	25.1	15.8	-22.5	57.5	14.3	14.1
Grand Total	158.4	100.0	-19.9	402.6	100.0	11.1

Source:Created by MarkLines based on press release

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

	Feb. 2024			Jan.-Feb. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
Chinese brands	79.10	59.3	-11.0	206.91	60.0	24.8
Japanese brands	16.97	12.7	-35.2	44.82	13.0	-7.2
German brands	23.57	17.7	-21.3	61.13	17.7	2.2
American brands	9.99	7.5	-39.7	24.12	7.0	-21.4
Korean brands	2.73	2.0	1.4	5.89	1.7	16.2
French brands	0.60	0.5	-6.1	1.25	0.4	-21.9

Source : MarkLines Data Center

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

Source:Created by MarkLines based on press release

Sales of NEV

	Feb. 2024			Jan.-Feb. 2024
	Units (10,000)	Share(%)	Y-o-Y(%)	Units (10,000)	Share(%)	Y-o-Y(%)
EV	29.4	61.6	-21.8	74.0	61.3	11.7
PHV	18.3	38.4	22.4	46.7	38.7	72.8
FCV	0.02	0.04	370.0	0.1	0.08	180.2
Total	47.7	100.0	-9.2	120.7	100.0	29.4

Source:CAAM, Each maker's press releases

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

Source:CAAM, Each maker's press releases

China - Top 10 best selling models

-	Maker/Brand	Model	Feb. 2024	Feb. 2023	Y-o-Y	Jan.- Feb. 2024	Jan.- Feb. 2023	Y-o-Y
1	Tesla	Model Y	36,248	51,412	-29.5%	78,121	92,315	-15.4%
2	Tesla	Model 3	24,117	22,990	4.9%	53,691	48,138	11.5%
3	AITO (2022-)	Wenjie M7	21,090	1,223	1624.4%	51,088	2,960	1625.9%
4	BYD Auto	Song PLUS	20,173	37,961	-46.9%	48,881	73,702	-33.7%
5	Chery	Tiggo 7	18,062	14,617	23.6%	40,559	32,175	26.1%
6	VW	Lavida	17,930	17,588	1.9%	43,918	36,688	19.7%
7	Haval	Haval H6	16,493	19,721	-16.4%	43,001	39,609	8.6%
8	BYD Auto	Qin PLUS	15,630	27,434	-43.0%	36,729	39,024	-5.9%
9	BYD Auto	Dolphin	13,725	22,861	-40.0%	32,630	40,490	-19.4%
10	Wuling	Wuling Hongguang MINIEV	13,596	8,384	62.2%	19,580	12,487	56.8%

Passenger Car retail sales by Chinese Makers Top10

-	Maker	Feb. 2024 (10,000)	Y-o-Y
1	BYD Auto	11.9	-32.8%
2	Changan Automobile	8.7	-7.9%
3	Geely Automobile	8.7	-3.7%
4	FAW-VW	8.5	-23.4%
5	SAIC VW	6.3	-14.3%
6	Chery Automobile	5.7	45.9%
7	SAIC-GM-Wuling	5.5	-28.3%
8	GAC Toyota	4.3	-35.4%
9	BMW Brilliance	4.0	-19.8%
10	Dongfeng Nissan	3.9	-31.4%

Source: CPCA

Three Japanese OEMs’ Chinese sales figures for February 2024 all drop y/y
Three Japanese OEMs recently announced their sales results in China for February 2024.
Toyota sold 83,300 units in February, down 35.7% year-over-year (y/y). Year-to-date (YTD) sales volumes totaled 242,100 units, down 0.6% y/y.
On March 5, Honda announced that its February sales volume was 45,498 units, down 38.6% y/y. Specifically, GAC Honda and Dongfeng Honda sold 24,162 units and 21,336 units, respectively. YTD sales volumes totaled 146,458 units, up 5.9% y/y. Specifically, GAC Honda and Dongfeng Honda sold 78,243 units and 68,215 units, respectively.
On March 8, Nissan announced that its February sales volume was 41,824 units, down 30.3% y/y. YTD sales volumes totaled 107,377 units, down 0.1% y/y.

New vehicle sales by Japanese Makers

Maker/Brand	Feb. 2024	Y-o-Y	Jan.-Feb. 2024	Y-o-Y	Note	Update
Toyota	83,300	-35.7%	242,100	-0.6%	Retail Sales, Including import vehicle sales	Mar. 11. 2024
Nissan	41,824	-30.3%	107,377	-0.1%	Retail sales data are used from Jan. 2015. Passenger car, LCV and Import are included.	Mar. 11. 2024
Honda	45,498	-38.6%	146,458	5.9%	Figures for Dongfeng Honda and Guangqi Honda (includes imported vehicles)	Mar. 11. 2024
Mazda	TBA	-%	TBA	-%	Retail Sales, Including import vehicle sales
Mitsubishi	TBA	-%	TBA	-%	Retail Sales, Including import vehicle sales
Subaru	TBA	-%	TBA	-%	Retail Sales

Source: Releases by each company

Flash report, January 2024

Feb 7, 2024

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

China - Top 10 best selling models

-	Maker/Brand	Model	Jan. 2024	Jan. 2023	Y-o-Y
1	Tesla	Model Y	41,873	40,903	2.4%
2	BYD Auto	Seagull	36,447	-	-%
3	Changan/Chana	CS75	34,780	16,772	107.4%
4	VW	Sagitar	31,747	22,480	41.2%
5	AITO (2022-)	Wenjie M7	29,998	1,737	1627.0%
6	Tesla	Model 3	29,574	25,148	17.6%
7	Honda	CR-V	28,743	9,259	210.4%
8	BYD Auto	Song PLUS	28,708	35,741	-19.7%
9	Haval	Haval H6	26,508	19,888	33.3%
10	VW	Lavida	25,988	19,100	36.1%

Source: MarkLines Data Center

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

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