Title: Record High Production and Sales Numbers Propel Chinese Automobile Industry
Subtitle: New Energy Vehicles and Overseas Sales Witness Impressive Growth
Date: October 11, 2023
On October 11, the China Association of Automobile Manufacturers held an information conference in Beijing, revealing that the Chinese automobile industry had witnessed a groundbreaking performance in September. With record-high production and sales numbers for the same period in history, as well as remarkable growth in exports of new energy vehicles, the industry showcased its resilience and potential.
According to the statistics presented at the conference, automobile production in September reached an unprecedented figure of 2.85 million units, while sales hit an impressive 2.858 million units. These numbers not only set a new benchmark for the industry but also represented a remarkable month-on-month growth of 10.7%. Year-on-year growth was equally strong, standing at 6.6% for production and 9.5% for sales.
Furthermore, the export market proved to be a significant driver of success for the Chinese automobile industry. September’s figures showed a substantial increase in automobile exports, with 444,000 units being shipped overseas. This marked a month-on-month increase of 9% and an outstanding year-on-year growth of 47.7%.
Highlighting the growth potential of the new energy vehicle sector, the conference focused on the overseas business revenue of A-share listed companies. Out of the 16 companies in this sector, seven had announced their figures for the first half of 2023. Comparing these results to the same period last year, an average growth rate of 93.43% was recorded, showcasing the strong performance in international markets.
Among the listed companies, Zhongtong Bus, JAC Motors, and Great Wall Motors exhibited the highest year-on-year growth rates in overseas business revenue, all surpassing 100%. This achievement demonstrates their successful expansion into global markets. Additionally, the proportion of overseas business income for these seven companies was generally notable, with five of them having a proportion exceeding 20%. This includes Zhongtong Bus, King Long Motor, JAC, Great Wall Motor, and BYD, highlighting their significant contributions to the international market.
The outstanding performance of the Chinese automobile industry in September highlights its resilience and capacity for growth. With record-breaking production and sales figures, as well as remarkable growth in exports, the industry continues to play a vital role in both domestic and global markets. The strong presence of new energy vehicles further emphasizes the commitment of Chinese automakers to sustainable and innovative technologies, positioning them as leaders in the evolving automotive landscape.