China’s Automobile Production and Sales Exceed 30 Million Units for the First Time
Reporter, Beijing, January 11 (Reporter Xu Peiyu) – The China Association of Automobile Manufacturers revealed on January 11 that in 2023, China’s automobile production and sales exceeded 30 million units for the first time, reaching 30.161 million vehicles and 30.094 million vehicles, respectively. This marks a year-on-year increase of 11.6% and 12%, setting new records for production and sales in the country.
The surge in car exports contributed significantly to this achievement, with 4.91 million units being exported, reflecting a considerable year-on-year increase of 57.9%. This growth has positioned China to potentially become the world‘s largest car exporter.
In 2023, the production and sales of passenger vehicles in China totaled 26.124 million and 26.063 million units, respectively, demonstrating a year-on-year increase of 9.6% and 10.6%. Additionally, commercial vehicle production and sales reached 4.037 million and 4.031 million units, respectively, showing substantial year-on-year growth of 26.8% and 22.1%.
Moreover, the data from the China Association of Automobile Manufacturers also indicated a significant uptick in the production and sales of new energy vehicles in 2023. The production and sales of these vehicles reached 9.587 million and 9.495 million units, respectively, marking a year-on-year increase of 35.8% and 37.9% with a market share of 31.6%.
Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, expressed optimism about the future of the automobile industry in China. Shihua emphasized that the continued recovery of the macro-economy, along with the country’s efforts to promote consumption and implement policies for the high-quality development of the new energy automobile industry, is expected to stimulate further market vitality and consumption potential. As a result, the Chinese automobile market is anticipated to maintain a stable and positive development trend in 2024.
With these record-breaking figures and optimistic projections, the Chinese automotive industry’s position on the global stage is set to continue growing and solidifying in the coming years.