In January this year, production and sales of automotive vehicles in China amounted to 2.41 million units and 2.439 million units, decreasing by 21.7 percent and 22.7 percent month on month, while up 51.2 percent and 47.9 percent year on year, respectively, according to the China Association of Automobile Manufacturers (CAAM).
In January, production and sales of passenger vehicles in China totaled 2.083 million units and 2.115 million units, down 23.2 percent and 24.2 percent month on month, while rising by 49.1 percent and 44 percent year on year, respectively.
In the given month, production and sales of commercial vehicles amounted to 327,000 units and 324,000 units, down 10.7 percent and 11.1 percent month on month, while rising by 66.2 percent and 79.6 percent year on year, respectively.
In the given month, production and sales of new energy vehicles (NEVs) totaled 787,000 units and 729,000 units, down 32.9 percent and 38.8 percent month on month, while up 85.3 percent and 78.8 percent year on year, respectively, with the market share of NEVs reaching 29.9 percent in the given period.
In January, China exported 443,000 vehicles, down 11.2 percent month on month, while up 47.4 percent year on year.
CAAM forecasts that in 2024 China’s sales of automotive vehicles will exceed 31.0 million units, up three percent year on year, including 26.8 million passenger vehicles, up three percent year on year, and 4.2 million commercial vehicles, rising by 4.0 percent year on year, with sales of NEV foreseen to reach 11.5 million units.
