CPCA: China's passenger car sales top 21.7 mln units in 2023

For the full-year 2023, retail sales of passenger vehicles across China totalled 21.7 million units, higher by 5.6% from the previous year, according to the latest release by the China Passenger Car Association (CPCA) on January 9.

For December 2023, 2.35 million units rolled off the assembly lines, rising by 8.5% from December 2022 and up 13.1% compared to November, the latest statistics found.

Behind the substantial rise in car sales last month was Chinese car manufacturers' compact year-end sales push and supportive measures taken by local authorities to promote consumption, CPCA explained.

December saw more and wider promotional activities in the domestic car market, nearly involving all carmakers and car models in the country, which were rarely seen in previous years, the association noted.

Meanwhile, China sold 7.74 million new-energy passenger vehicles in 2023, jumping by 36.2% on year, among which 1.05 million units were for exports, higher by a massive 72% on year, according to CPCA.

As for production, the total output of passenger cars throughout the country increased by 9.2% on year to 25.55 million units in 2023, while the volume of new-energy passenger vehicles swelled by 33.7% on year to 8.92 million units, the CPCA data showed.

Written by Rong Zhang, zhangronga@mysteel.com

Edited by Alyssa Ren, rentingting@mysteel.com