China’s passenger car market sees dip in output and sales, while exports soar


10th August 2023 – (Beijing) According to data released by the China Association of Automobile Manufacturers on Thursday, China experienced a decline in both the production and sales of passenger cars in July, with a decrease of 4.3 per cent and 3.4 per cent, respectively, compared to the previous year.

In terms of production, the output of passenger cars reached 2.12 million units last month, while sales amounted to 2.1 million units.

However, when considering the cumulative figures for the first seven months of the year, there was still growth in the passenger car sector. Production during this period stood at 13.4 million units, reflecting a 6 per cent increase compared to the same period last year. Similarly, sales rose by 6.7 per cent year on year, reaching 13.37 million units.

Interestingly, July witnessed a significant surge in vehicle exports, which jumped by 35.1 per cent compared to the previous year, totalling 392,000 units.

Looking at the export performance for the January to July period, the numbers are even more remarkable. Exports reached 2.53 million units, reflecting a substantial 67.9 per cent increase compared to the same period last year.