Shulou(Shulou.com)11/24 Report--

CTOnews.com, August 21, China Association of Automobile Manufacturers (CAA) said today that due to the traditional off-season of the automobile market in July 2023, demand has relatively weakened and the pace of production and sales has slowed down. In addition, the passenger car market showed high growth in the same period last year, driven by policies to promote consumption, passenger car sales this month month-on-month, year-on-year decline.

According to the statistics of the China Automobile Association, in July 2023, the production and sales of passenger vehicles were 211.5 million and 2.1 million respectively, down 4.7% and 7.4% respectively from the previous month, and 4.3% and 3.4% respectively from the same period last year, according to the official account of the Automobile Association of ▲ Tuyuan.

CTOnews.com learned that compared with last month, the production and sales of the four major types of models (cars, SUV, MPV, crossover) all showed a slight decline; compared with the same period last year, the production and sales of sports multi-purpose vehicles (SUV) showed a slight increase, while the production and sales of multi-purpose vehicles (MPV) decreased slightly, while the production and sales of basic passenger vehicles (cars) and crossed passenger vehicles both showed a double-digit decline.

However, as of July this year, the production and sales of China's passenger car market as a whole showed an upward trend. From January to July 2023, passenger car production and sales were 1339.7 million and 13.368 million respectively, up 6 per cent and 6.7 per cent respectively over the same period last year. Compared with the same period last year, the production and sales of sports multi-purpose vehicles (SUV) and multi-purpose vehicles (MPV) increased significantly, while the production and sales of basic passenger vehicles (cars) and crossover passenger vehicles decreased to varying degrees.

Referenc

Data briefing | A brief Analysis of the production and Marketing of passenger vehicles in July 2023

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