China's New Energy Vehicle Production and Sales Exceed 30 Million Units, Domestic Brand Passenger Car Market Share Over 60% in the First Half of the Year
Jul 12, 2024
On July 10th, the China Association of Automobile Manufacturers released the car production and sales data for June 2024.
In June, the production and sales of cars were completed at 2.507 million and 2.552 million units respectively, with a month-on-month increase of 5.7% and 5.6%, and a year-on-year decrease of 2.1% and 2.7% respectively. From January to June, the production and sales of cars were completed at 13.891 million and 14.047 million units respectively, with a year-on-year increase of 4.9% and 6.1%. The growth rate of production and sales was 1.7 and 2.2 percentage points lower than that of January to May respectively.
Comment: Chen Shihua, Deputy Secretary-General of the China Association of Automobile Manufacturers: In the first half of the year, the overall domestic car sales slightly increased, but the inventory is high. The issue of insufficient domestic consumer confidence is still prominent, and the consumer confidence and consumption environment need continuous improvement.
In June, the production and sales of passenger cars were completed at 2.177 million and 2.215 million units respectively, with a month-on-month increase of 6.2% and 6.7%, and a year-on-year decrease of 1.9% and 2.3% respectively. From January to June, the production and sales of passenger cars were completed at 11.886 million and 11.979 million units respectively, with a year-on-year increase of 5.4% and 6.3%.
In June, the production and sales of commercial vehicles were completed at 0.33 million and 0.337 million units respectively, with a month-on-month increase in production of 2.8% and a decrease in sales of 1.2%, and a year-on-year decrease of 3.5% and 4.9% respectively. From January to June, the production and sales of commercial vehicles were completed at 2.005 million and 2.068 million units respectively, with a year-on-year increase of 2% and 4.9%.
In June, the production and sales of new energy vehicles were completed at 1.003 million and 1.049 million units respectively, with a year-on-year increase of 28.1% and 30.1%, and the market share reached 41.1%. From January to June, the production and sales of new energy vehicles were completed at 4.929 million and 4.944 million units respectively, with a year-on-year increase of 30.1% and 32%, and the market share reached 35.2%.
In June, car exports were 0.485 million units, with a month-on-month increase of 0.7%, and a year-on-year increase of 26.9%. From January to June, car exports were 2.793 million units, with a year-on-year increase of 30.5%.
In June, the sales of domestic brand passenger cars were 1.432 million units, with a year-on-year increase of 18.8%, and the market share was 64.6%. From January to June, the sales of domestic brand passenger cars were 7.419 million units, with a year-on-year increase of 23.9%, and the market share was 61.9%.
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