China's automobile production and sales will decline in 2023, but the new energy vehicle market will maintain rapid growth

According to data from the China Association of Automobile Manufacturers, the Chinese automobile market experienced a certain degree of decline in July this year. According to statistics, my country's automobile production in that month was 2.401 million units, and sales volume was 2.387 million units, a month-on-month decrease of 6.2% and 9% respectively. Compared with the same period last year, production and sales fell by 2.2% and 1.4% respectively

Compared with the first six months, cumulative data from January to July this year show that China’s total automobile production and sales were respectively 15.65 million vehicles and 15.626 million vehicles, with year-on-year growth rates of 7.4% and 7.9% respectively. However, the growth rate dropped by 1.9 percentage points from the previous six months

In July, the production and sales of the passenger car segment were 2.115 million units and 2.1 million units respectively. , a month-on-month decrease of 4.7% and a 7.4% decrease, and a year-on-year decrease of 4.3% and 3.4% respectively. However, data from January to July this year show that the production and sales of passenger cars were 13.397 million and 13.368 million respectively, with year-on-year growth rates of 6% and 6.7% respectively.

In July this year, domestic new Sales volume in the energy vehicle market reached 679,000 units, a month-on-month decrease of 6.9%, but a year-on-year increase of 26%. In addition, the export volume of new energy vehicles was 101,000 units, a month-on-month increase of 29.5%, and a year-on-year growth rate of 87%. As for the cumulative sales from January to July, domestic new energy vehicles reached 3.89 million units, a year-on-year increase of 32.5%; exports reached 636,000 units, a year-on-year increase of 1.5 times

According to data released by the China Association of Automobile Manufacturers, from January to July this year, the total sales of the top ten new energy vehicle sales companies reached 3.847 million units, a year-on-year increase of 55.8%. The sales of these companies accounted for 85% of the total sales of new energy vehicles, an increase of 7.7 percentage points compared with the same period last year. This shows that the entire new energy market still maintains a rapid growth momentum. In this list, Li Auto and GAC performed well, with their sales growth more than doubling. In contrast, the sales growth of SAIC and Dongfeng has slowed down, while other companies have shown varying degrees of growth. Overall, China's automobile market still shows a trend of diversification, especially the new energy vehicle market's growth performance is eye-catching

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