Posted on 15 May 2023
China's sales and production of automobiles both posted significant on-year rises in April, mainly due to low base of last year, according to the latest data released by the China Association of Automobile Manufacturers (CAAM) on May 11.
The country's automobile sales in April soared 82.7% from the same month last year to reach 2.16 million units, and production rose 76.8% on year to 2.13 million units, CAAM's data showed.
Behind such growth was the low base of the year-ago period when market supply was stagnant and trading subsided due to the impact of containment and mitigation measures to curb COVID-19 spread across the country, CAAM said.
However, compared with March this year, the total automobile sales in April recorded a 11.9% slump to 2.16 million units, while output also declined by 17.5%, CAAM's data showed.
The overall demand for automobiles in China has been weak last month, with the actual demand yet to be released. Most customers opted to wait and see if there will be more sales promotion events in the coming months, according to CAAM.
Over January-April, China's total vehicle sales gained by 7.1% on year to 8.24 million units, while output grew by 8.6% on year to 8.36 million units, according to the data.
China's sales and production of automobiles in April
000 units | Sales | YoY (%) | Production | YoY (%) |
Total | 2,159 | 82.7 | 2,133 | 76.8 |
Passenger cars | 1,811 | 87.7 | 1,778 | 78.5 |
Commercial vehicles | 348 | 60.5 | 355 | 68.8 |
NEVs | 636 | 110 | 640 | 110 |
China's sales and production of automobiles over Jan-Apr
000 units | Sales | YoY (%) | Production | YoY (%) |
Total | 8,235 | 7.1 | 8,355 | 8.6 |
Passenger cars | 6,949 | 6.8 | 7,052 | 8.6 |
Commercial vehicles | 1,286 | 8.8 | 1,303 | 8.8 |
NEVs | 2,222 | 42.8 | 2,291 | 42.8 |
Source: CAAM
In particular, new-energy vehicles accounted for the largest share in April's sales and production, with the sales volume jumping by 16.5% on year to 471,000 units and the output gaining 15.7% on year to 483,000 units. In the first four months, sales of electric cars soared by 59.8% on year to total 1.62 million units, while production also rose by 60.8% on year to reach 1.68 million units.
Meanwhile, China's auto exports surged by 170% on year to 376,000 units in April, and the combined total over January-April grew by 89.2% on year to 1.37 million units.
Source:Mysteel Global
