China's Passenger Car Market in June 2024 Trends and Developments

TapTechNews July 15th news, the China Association of Automobile Manufacturers released the report 'Analysis of Passenger Car Production and Sales in June 2024' today. In June this year, driven by factors such as trade-in renewal, car companies' promotions and node sprints, the sales of passenger cars continued to increase month-on-month.

In June 2024, the production and sales of passenger cars were completed 2.177 million units and 2.215 million units respectively, with month-on-month growth rates of 6.2% and 6.7% respectively, and year-on-year declines of 1.9% and 2.3% respectively.

From January to June 2024, the production and sales of passenger cars were completed 11.886 million units and 11.979 million units respectively, with year-on-year growth rates of 5.4% and 6.3% respectively.

TapTechNews attached the specific situation as follows:

Cross-type passenger cars (vans, mini-buses, etc.): Compared with the previous month, both production and sales showed different degrees of decline; compared with the same period of the previous year, the production and sales of cross-type passenger cars showed double-digit growth.

Multi-purpose passenger vehicles (MPVs): The production decreased significantly and the sales increased slightly.

Basic passenger cars (sedans) and sport utility vehicles (SUVs): Both production and sales showed different degrees of decline.

In June 2024, the domestic sales of passenger cars was 1.812 million units, with a month-on-month increase of 8% and a year-on-year decrease of 7.4%; from January to June 2024, the cumulative was 9.64 million units, with a year-on-year increase of 1.6%.

In June 2024, the export of passenger cars was 403,000 units, with a month-on-month increase of 1.4% and a year-on-year increase of 29.1%; from January to June 2024, the cumulative was 2.339 million units, with a year-on-year increase of 31.5%.