On November 10, the China Association of Automobile Manufacturers unveiled the domestic automotive production and sales figures for October 2023. The country's automotive production and sales reached 2.891 million and 2.853 million units, respectively, representing year-on-year increases of 11.2% and 13.8%. Notably, the production and sales of new energy vehicles (NEVs) totaled 989,000 and 956,000 units, showing respective year-on-year growth rates of 29.2% and 33.5%.
October Auto Sales See a 13.8% Year-on-Year Increase
In October, automotive production and sales achieved 28.91 million and 28.53 million units, with year-on-year growth rates of 11.2% and 13.8%, respectively. Cumulatively for the January-October period, automotive production and sales reached 240.16 million and 239.67 million units, reflecting year-on-year increases of 8% and 9.1%.
In the passenger vehicle segment, October production and sales amounted to 2.513 million and 2.488 million units, with year-on-year growth rates of 7.6% and 11.4%. For the January-October period, passenger vehicle production and sales totaled 20.731 million and 20.664 million units, representing year-on-year increases of 6% and 7.5%.
In the commercial vehicle sector, October production and sales were 378,000 and 365,000 units, with year-on-year growth rates of 42.7% and 33.4%. Over the January-October period, commercial vehicle production and sales reached 3.286 million and 3.303 million units, showing year-on-year increases of 22.1% and 19.8%.
33.5% Year-on-Year Growth in October for New Energy Vehicle Sales
In October, NEV production and sales amounted to 989,000 and 956,000 units, with year-on-year growth rates of 29.2% and 33.5%. NEVs accounted for 33.5% of the total new vehicle sales in October. Cumulatively for the January-October period, NEV production and sales reached 7.352 million and 7.28 million units, showing year-on-year growth rates of 33.9% and 37.8%. NEVs represented 30.4% of the total new vehicle sales during this period.
10.4% Year-on-Year Growth in Revenue for the Automotive Manufacturing Industry in January-September
For the period of January to September, the automotive manufacturing industry saw an 11.4% year-on-year increase in value-added, achieving operating revenue of ¥71,149.9 billion, reflecting a growth of 10.4%. The total profit amounted to ¥345.99 billion, with a marginal year-on-year increase of 0.1%.
44.2% Year-on-Year Growth in October Auto Exports
In October, complete vehicle exports reached 488,000 units, with a notable year-on-year growth of 44.2%. New energy vehicle exports were 124,000 units, marking a year-on-year increase of 12.8%. Cumulatively for the January-October period, complete vehicle exports reached 3.922 million units, showing a significant year-on-year growth of 59.7%. New energy vehicle exports were 995,000 units, with a remarkable year-on-year increase of 99.1%.
