China Association of Automobile Manufacturers: Economic Operation of the Automobile Industry in October 2024

In October 2024, my country's automobile production and sales reached 2.996 million and 3.053 million respectively, up 3.6% and 7% year-on-year respectively. Among them, the production and sales of new energy vehicles reached 1.463 million and 1.43 million respectively, up 48% and 49.6% year-on-year respectively.

1. Auto sales in October increased by 7% year-on-year

In October, automobile production and sales reached 2.996 million and 3.053 million units respectively, up 3.6% and 7% year-on-year respectively.

From January to October, automobile production and sales reached 24.466 million and 24.624 million respectively, up 1.9% and 2.7% year-on-year respectively.

1. Passenger car sales in October increased by 10.7% year-on-year

In October, the production and sales of passenger vehicles reached 2.706 million and 2.755 million respectively, up 7.7% and 10.7% year-on-year respectively.

From January to October, the production and sales of passenger vehicles reached 21.349 million and 21.434 million respectively, up 3% and 3.7% year-on-year respectively.

(II) Commercial vehicle sales in October fell 18.3% year-on-year

In October, the production and sales of commercial vehicles reached 290,000 and 298,000 respectively, down 23.3% and 18.3% year-on-year respectively.

From January to October, the production and sales of commercial vehicles reached 3.117 million and 3.19 million respectively, down 5.1% and 3.4% year-on-year respectively.

2. New energy vehicle sales in October increased by 49.6% year-on-year

In October, the production and sales of new energy vehicles reached 1.463 million and 1.43 million respectively, up 48% and 49.6% year-on-year respectively; the sales of new energy vehicles accounted for 46.8% of the total new car sales.

From January to October, the production and sales of new energy vehicles reached 9.779 million and 9.75 million respectively, up 33% and 33.9% year-on-year respectively; the sales of new energy vehicles accounted for 39.6% of the total new car sales.

3. Automobile exports in October increased by 11.1% year-on-year

In October, the export of automobiles reached 542,000 units, up 11.1% year-on-year, and the export of new energy vehicles reached 128,000 units, up 3.6% year-on-year.

From January to October, 4.855 million vehicles were exported, up 23.8% year-on-year, and 1.058 million new energy vehicles were exported, up 6.3% year-on-year.

(Note: The above data comes from the China Association of Automobile Manufacturers.)

Source: Equipment Industry Department I, Ministry of Industry and Information Technology