China Association of Automobile Manufacturers: Brief analysis of passenger car production and sales in October 2022

According to statistics and analysis by the China Association of Automobile Manufacturers, the passenger car market continues to maintain rapid growth, driven by policies such as a halving of the purchase tax, the rapid growth of new energy vehicles, and good momentum in automobile exports.

In October 2022, a total of 2.231 million passenger cars were sold, a decrease of 4.3% month-on-month and an increase of 10.7% year-on-year.

From January to October 2022, a total of 19.218 million passenger cars were sold, a year-on-year increase of 13.7%.

In October 2022, among the main types of passenger cars, compared with the previous month, the four major categories of models all showed declines to varying degrees, among which the decline of multi-purpose passenger cars (MPVs) was more obvious; compared with the same period last year, basic passenger cars (sedans) and sports utility vehicles (SUVs) showed rapid growth, while the other two categories showed double-digit declines.

From January to October 2022, among the main types of passenger cars, compared with the same period last year, basic passenger cars (sedans) and sports utility vehicles (SUVs) maintained rapid growth, while the other two major types of vehicles showed declines to varying degrees.

In October 2022, sales of domestically produced high-end brand passenger cars reached 340,000 units, a year-on-year increase of 12.5%.

From January to October 2022, the sales volume of domestically produced high-end brand passenger cars reached 3.075 million units, a year-on-year increase of 10.6%.