Analysis of the production and sales situation of China's automotive industry in May 2024

According to the analysis of the China Association of Automobile Manufacturers, in May 2024, the overall output of China's economy continued to expand, and the production and operation activities of enterprises maintained a trend of recovery and development. In that month, automobile sales achieved a slight increase both month-on-month and year on year. The production and sales of new energy vehicles and automobile exports continued to grow rapidly, and Chinese brands also continued to maintain good performance.

In May 2024, China's automobile production and sales reached 2.372 million and 2.417 million respectively, with a month-on-month decrease of 1.4% in production and a month-on-month increase of 2.5% in sales, with year-on-year growth of 1.7% and 1.5%, respectively.

From January to May 2024, China's automobile production and sales reached 11.384 million and 11.496 million, respectively, with year-on-year growth of 6.5% and 8.3%.

In May 2024, China's production and sales of passenger vehicles  reached 2.051 million and 2.075 million respectively, with a month-on-month increase of 0.1% and 3.7%, and a year-on-year increase of 2% and 1.2%, respectively.

From January to May 2024, China's production and sales of passenger vehicles reached 9.709 million and 9.765 million, respectively, with year-on-year growth of 7.1% and 8.5%.

In May 2024, China's production and sales of commercial vehicles reached 321,000 and 341,000 respectively, with a decrease of 10.1% and 4.5% compared to the previous period, with a year-on-year decrease of 0.2% in production and a year-on-year increase of 3.3% in sales.

From January to May 2024, China's production and sales of commercial vehicles reached 1.675 million and 1.731 million, respectively, with a year-on-year increase of 3.1% and 7.1%.

In May 2024, China's production and sales of new energy vehicles reached 94,000 and 955,000 respectively, with year-on-year growth of 31.9% and 33.3%.

From January to May 2024, China's production and sales of new energy vehicles reached 3.926 million and 3.895 million, respectively, with year-on-year growth of 30.7% and 32.5%.

In May 2024, China's domestic sales of automobiles reached 1.936 million units, with a month-on-month increase of 4.3% and a year-on-year decrease of 2.9%.

From January to May 2024, China's domestic sales of automobiles reached 9.187 million units, with a year-on-year increase of 3.7%.

In May 2024, China's automobile exports reached 481,000 units, with a decrease of 4.4% month-on-month and a year-on-year increase of 23.9%.

From January to May 2024, China's automobile exports reached 2.308 million units, with a year-on-year increase of 31.3%.

(Note: the above data are from China Association of Automobile Manufacturers)

Translated by: WONDEE Autoparts

2024/6/24