China Automobile Association: China's automobile production and sales both increase in June 2023

On July 12, according to data released by the China Association of Automobile Manufacturers (referred to as the "China Automobile Association"), in June 2023, China's automobile production and sales reached 2.561 million and 2.622 million respectively, with month-on-month increases of 9.8% and 10.1%, year-on-year growth of 2.5% and 4.8% respectively. 1-6 The cumulative monthly production and sales were 13.248 million and 13.239 million respectively, with year-on-year increases of 9.3% and 9.8%, respectively.

It is worth mentioning that sales of new energy vehicles exceeded the 800,000 mark for the first time in June. Specific data shows that the production and sales of new energy vehicles in June were 784,000 and 806,000 respectively, with year-on-year increases of 32.8% and 35.2% respectively. The market share of new energy vehicles has also increased significantly, reaching 30.7%.

During the period from January to June, the production and sales of new energy vehicles reached an impressive 3.788 million and 3.747 million, with year-on-year increases of 42.4% and 44.1% respectively. The market share of new energy vehicles reached 28.3%. It is understood that these data indicate that China's new energy vehicle market is in a stage of rapid development and has been widely recognized and accepted by consumers.

Overall, China's automobile industry achieved encouraging results in June 2023. Automobile production and sales continue to grow, and new energy vehicle sales perform well, demonstrating huge market potential and development space.