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MNI BRIEF: China 2023 Auto Sales Up 12% - Association

MNI (BEIJING)

China sold 30.09 million vehicles in 2023, an increase of 12% y/y, according to data published by the China Association of Automobile Manufacturers Thursday. New energy vehicles sales reached 9.4 million units, up 37.9% y/y and increasing market share by 5.9pp to 31.6%.

Exports hit 4.91 million vehicles, a year-on-year increase of 57.9%, the association said.

Policy experts recently told MNI Beijing will likely offer to move some electric-vehicle production to the European Union as part of a long-term deal to avert a trade war, a key issue ahead of this week's China-EU summit (SEE: MNI: China Plans EU EV Production To Avoid Trade War)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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