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In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!

In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!

On October 12, the China Association of Automobile Manufacturers (CAAM) released its vehicle production and sales data for September 2024.

01

The overall situation

Vehicle production in September totaled 2.796 million units and 2.809 million units, up 12.2% m/m and 14.5% m/m and down 1.9% and 1.7% y/y, respectively. From January to September, vehicle production and sales reached 21.47 million units and 21.571 million units, up 1.9% and 2.4% y/y, respectively, and the growth rate of production and sales narrowed by 0.6 and 0.7 percentage points respectively from January to August.

Comments:

Chen Shihua, Deputy Secretary-General of China Association of Automobile Manufacturers: At present, with the support of policies, especially local policies, have been introduced, creating a better environment for automobile consumption, and the auto market has improved significantly. In September, production and sales achieved rapid growth month-on-month, with a slight year-on-year decline in the case of last year's high base, and the current auto market as a whole is in a normal state.

02

Passenger car

Passenger vehicle production in September totaled 2.502 million units and 2.525 million units, up 12.6% m/m and 15.8% m/m and 0.2% and 1.5% y/y, respectively. From January to September, passenger vehicle production and sales totaled 18.643 million units and 18.679 million units, up 2.6% and 3% y/y, respectively.

03

Commercial vehicles

Commercial vehicle production in September totaled 294,000 units and 284,000 units, up 8.7% m/m and 4.4% m/m, respectively. The year-on-year decreases were 16.8% and 23.5%, respectively. From January to September, commercial vehicle production and sales totaled 2.827 million units and 2.892 million units, down 2.8% and 1.6% y/y, respectively.

Comments:

Chen Shihua: The performance of the commercial vehicle market is still relatively weak, and commercial vehicles are closely related to the economic environment, and at the same time, affected by local infrastructure and national subsidy policies, commercial vehicles are still in a state of decline.

04

New energy vehicles

In September, the production and sales of new energy vehicles reached 1.307 million units and 1.287 million units, up 48.8% and 42.3% y/y, respectively, and new energy vehicle sales accounted for 45.8% of the total new vehicle sales. From January to September, the production and sales of new energy vehicles reached 8.316 million units and 8.32 million units, up 31.7% and 32.5% year-on-year, respectively, and new energy vehicle sales accounted for 38.6% of the total new vehicle sales.

Comments:

Chen Shihua: In September, the monthly production and sales of new energy vehicles hit a new high, and the cumulative sales from January to October are expected to reach 10 million, and the annual sales are expected to reach 12 million, much higher than the expectations at the beginning of the year. At present, the policy environment for new energy vehicles is still much better than that of traditional fuel vehicles, and the subsidies for new energy vehicles are much higher than those of traditional fuel vehicles, which is also an important driving factor for the continuous growth of new energy vehicle production and sales.

05

outlet

Vehicle exports in September totaled 539,000 units, reflecting a 5.4% m/m increase and a 21.4% y/y increase. Vehicle exports from January to September totaled 4.312 million units, reflecting a 27.3% y/y increase.

Comments:

Chen Shihua: At present, automobile exports are still in a good state, and the annual output is expected to reach 5.8 million units, which will be significantly higher than last year.

06

Chinese brand passenger cars

In September, the sales volume of Chinese brand passenger cars was 1.709 million units, a year-on-year increase of 21.9%, and the sales share reached 67.7%. From January to September, the sales volume of Chinese brand passenger cars was 11.919 million units, a year-on-year increase of 20.5%, and the sales share reached 63.8%.

The general situation of the car

In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!

Passenger car situation

In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!

Commercial vehicle situation

In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!

New energy vehicles

In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!

Exports

In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!
In the first 9 months, the sales of new energy vehicles were 8.32 million, and the whole year is expected to reach 12 million!

Text: Wang Jinyu Editor/Layout: Liu Xiaoye

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