Posted on 14 Jul 2023
Sales and production of automobiles in China both posted on-year growth in June, according to the latest data released by the China Association of Automobile Manufacturers (CAAM) on July 11.
The country's automobile sales in June gained 4.8% from the same month last year to reach 2.62 million units, while production rose 2.5% on year to 2.56 million units, CAAM's data showed.
Over January-June, China's total vehicle sales gained by 9.8% on year to 13.24 million units, while the cumulative output also increased by 9.3% on year to 13.25 million units, according to the data.
The total sales of automobiles posted a relatively high on-year growth in the first half of 2023, mainly supported by stimulus policies launched by China's central and local governments, shift to Stage VI (6b) emission standard, various sales promotion events across the country, low base of last year, as well as improving demand from consumers, CAAM said.
China's sales and production of automobiles in Jun
000 units | Sales | YoY (%) | Production | YoY (%) |
Total | 2,622 | 4.8 | 2,561 | 2.5 |
Passenger cars | 2,268 | 2.1 | 2,219 | -0.9 |
Commercial vehicles | 355 | 26.3 | 342 | 31.3 |
NEVs | 806 | 35.2 | 784 | 32.8 |
China's sales and production of automobiles over Jan-Jun
000 units | Sales | YoY (%) | Production | YoY (%) |
Total | 13,239 | 9.8 | 13,248 | 9.3 |
Passenger cars | 11,268 | 8.8 | 11,281 | 8.1 |
Commercial vehicles | 1,971 | 15.8 | 1,967 | 16.9 |
NEVs | 3,747 | 44.1 | 3,788 | 42.4 |
Source: CAAM
Last month in the NEV sector, electric cars accounted for the largest share in terms of sales and production, with the former growing by 20.5% on year to 573,000 units and the latter up by 17.5% on year to 548,000 units. In the first six months, sales of electric cars soared by 31.9% on year to total 2.72 million units, while production also rose by 30.3% on year to reach 2.74 million units.
Meanwhile, China's auto exports jumped by 53.2% on year to 382,000 million units in June, while the combined total over January-June grew by 75.7% on year to 2.14 million units.
Source:Mysteel Global
