China's Auto Production Increases in October, Sales Drop

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Researched by Industrial Info Resources (Sugar Land, Texas)--According to a statistical analysis by the China Association of Automobile Manufacturers, China's automobile production totaled 2.891 million units in October, up 1.5% from September. Meanwhile, auto sales totaled 2.853 million, down 0.2% for the same period.

On a year-over-year basis, production in October was up 11.2%, while sales were up 13.8% from the same month in 2022.

For the first 10 months of this year (January through October) auto production totaled 24.016 million units, up 8% from the same period in 2022, while sales totaled 23.967 million units, up 9.1%.

China's production of passenger cars totaled 20.731 million during the 10-month period of January through October, up 6% from the same period in 2022. Sales totaled 20.664 million units, up 7.5%.

Production of commercial vehicles totaled 3.286 million units during the first 10 months of the year, up 22.1% from the same period in 2022. Sales for the same period totaled 3.286 million units, up 19.8%.

Production of "new energy" vehicles, those that are fully or predominately powered by electricity, totaled 7.352 million during the first 10 months of the year, up 33.9% over the same period in 2022, while sales totaled 7.28 million units, up 37.8%.

Industrial Info is tracking 18 auto-related projects in China, worth US$3.86 billion. Among them, four projects are expected to kick off in July 2024, with a total investment of US$287.26 million. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a list of detailed project reports.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).