Economic Operation of China's Automobile Industry in May 2024

In May 2024, China's automobile production and sales reached 2.372 million and 2.417 million respectively, with year-on-year growth of 1.7% and 1.5%. Among them, the 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%.

1、 In May, China's automobile sales increased by 1.5% year-on-year

In May, China's automobile production and sales reached 2.372 million and 2.417 million respectively, with year-on-year growth of 1.7% and 1.5%.

From January to May, 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%.

（1） In May, China's passenger vehicle sales increased by 1.2% year-on-year

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

From January to May, 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%.

（2） In May, China's commercial vehicle sales increased by 3.3% year-on-year

In May, China's commercial vehicle production and sales completed 321000 and 341000 units respectively, 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, China's production and sales of commercial vehicles reached 1.675 million and 1.731 million, respectively, with year-on-year growth of 3.1% and 7.1%.

2、 In May, China's sales of new energy vehicles increased by 33.3% year-on-year

In May, 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%; The sales of new energy vehicles account for 39.5% of the total sales of new vehicles.

From January to May, 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%, respectively; The sales of new energy vehicles account for 33.9% of the total sales of new vehicles.

3、 In May, China's automobile exports increased by 23.9% year-on-year

In May, China's automobile exports reached 481,000 units, with a year-on-year increase of 23.9%. The export of new energy vehicles reached 99,000 units, with a year-on-year decrease of 9%.

From January to May, China's automobile exports reached 2.308 million units, with a year-on-year increase of 31.3%. The export of new energy vehicles reached 519,000 units, with a year-on-year increase of 13.7%.

Source: CAAM

Translated by：WONDEE Autoparts

2024/6/25