China's Automobile Industry Update June and 1H 2024 Data

TapTechNews July 10th news, data from the China Association of Automobile Manufacturers shows that in June, China's automobile production and sales completed 2.507 million and 2.552 million units respectively, with monthly growth rates of 5.7% and 5.6% respectively, and year-on-year decreases of 2.1% and 2.7% respectively. From January to June, automobile production and sales completed 13.891 million and 14.047 million units respectively, with year-on-year growth rates of 4.9% and 6.1% respectively, and the growth rates of production and sales narrowed by 1.7 and 2.2 percentage points respectively compared to January to May.

TapTechNews noticed that in June, the production and sales of new energy vehicles completed 1.003 million and 1.049 million units respectively, with year-on-year growth rates of 28.1% and 30.1% respectively, and the market share reached 41.1%. From January to June, the production and sales of new energy vehicles completed 4.929 million and 4.944 million units respectively, with year-on-year growth rates of 30.1% and 32% respectively, and the market share reached 35.2%.

In June, vehicle exports were 485,000 units, with a monthly growth rate of 0.7% and a year-on-year growth rate of 26.9%. By vehicle type, passenger vehicle exports were 403,000 units, with a monthly growth rate of 1.4% and a year-on-year growth rate of 29.1%; commercial vehicle exports were 82,000 units, with a monthly growth rate of -2.5% and a year-on-year growth rate of 16.9%. From January to June, vehicle exports were 2.793 million units, with a year-on-year growth rate of 30.5%. By vehicle type, passenger vehicle exports were 2.339 million units, with a year-on-year growth rate of 31.5%; commercial vehicle exports were 454,000 units, with a year-on-year growth rate of 25.7%.