TapTechNews June 26. It is predicted by Wan Gang, the chairman of the China Association for Science and Technology, at the 2024 Summer Davos Forum today that the production of electric vehicles in China is expected to exceed 10 million units this year.
Wan Gang also said that the current 'involution' in the automotive industry is actually a kind of anxiety in transformation. The automotive market has always been highly competitive. 'Ever since I entered the automotive market, BMW and Audi have been competing, but the cars just have to meet everyone's requirements, and then there will be competition.'
According to the data of the China Association of Automobile Manufacturers, in 2023, the cumulative production and sales of automobiles in China completed 30.161 million and 30.094 million respectively, increasing by 11.6% and 12% year-on-year respectively, with the production and sales volume reaching a new high in history and achieving relatively high double-digit growth.
In 2023, China's new energy vehicles ranked first in the world for nine consecutive years. Under the dual effects of policies and the market, in 2023, new energy vehicles continued to grow rapidly. The production and sales of new energy vehicles were completed 9.587 million and 9.495 million respectively, increasing by 35.8% and 37.9% year-on-year respectively, and the market share reached 31.6%, which was 5.9 percentage points higher than the previous year.
According to the previous report by TapTechNews, in May this year, the production and sales of new energy vehicles in China were completed 940,000 and 955,000 respectively, increasing by 31.9% and 33.3% year-on-year respectively, and the market share reached 39.5%. Among them, the domestic sales of new energy vehicles were 856,000, increasing by 40.8%; exports were 99,000, decreasing by 13.3% month-on-month and 9% year-on-year.
From January to May, the production and sales of new energy vehicles in China were completed 3.926 million and 3.895 million respectively, increasing by 30.7% and 32.5% year-on-year respectively, and the market share reached 33.9%.