China Association of Automobile Manufacturers: In June, automobile production and sales reached 2.507 million and 2.552 million units respectively, with a month-on-month increase of 5.7% and 5.6% respectively

Zhitong
2024.07.10 06:31
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The Chinese automotive industry has shown a growth trend so far this year, with car production and sales reaching 2.507 million and 2.552 million vehicles in June, an increase of 5.7% and 5.6% respectively. From January to June, car production and sales increased by 4.9% and 6.1% year-on-year. The market share of new energy vehicles is steadily increasing, with production and sales reaching 1.003 million and 1.049 million vehicles in June, an increase of 28.1% and 30.1% year-on-year. Chinese brand passenger car market share has exceeded 60%, achieving an upward breakthrough. Overall, the Chinese automotive industry has shown stable performance, with rapid growth in the new energy vehicle market

According to the information from Zhitong Finance and Economics APP, on July 10th, based on data from the China Association of Automobile Manufacturers, in June, the production and sales of automobiles were 2.507 million and 2.552 million respectively, with month-on-month growth of 5.7% and 5.6% respectively, and year-on-year decreases of 2.1% and 2.7% respectively. From January to June, the production and sales of automobiles were 13.891 million and 14.047 million respectively, with year-on-year growth of 4.9% and 6.1% respectively. The growth rates of production and sales narrowed by 1.7 and 2.2 percentage points respectively compared to January to May.

In June, the production and sales of new energy vehicles were 1.003 million and 1.049 million respectively, with year-on-year growth of 28.1% and 30.1% respectively, and a market share of 41.1%. From January to June, the production and sales of new energy vehicles were 4.929 million and 4.944 million respectively, with year-on-year growth of 30.1% and 32% respectively, and a market share of 35.2%.

According to the analysis of the China Association of Automobile Manufacturers, since the beginning of this year, the main economic indicators of the automobile industry have shown a growth trend. Due to the relatively low base in the same period of the first quarter, the growth rate exceeded double digits, and the overall growth rate slowed down in the second quarter compared to the first quarter. In the first half of the year, domestic sales increased slightly year-on-year, with terminal inventory higher than normal levels; automobile exports maintained rapid growth, making a significant contribution to driving overall market growth, while the export growth rate of new energy vehicles slowed significantly; the production and sales of new energy vehicles continued to grow rapidly, with a steady increase in market share. According to the association's statistics, as of the end of June this year, the cumulative production and sales of domestically produced new energy vehicles exceeded 30 million units; Chinese brand passenger car market share exceeded 60%, achieving an upward breakthrough.

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