China's Share of Global Automobile Market Reaches 38% in November 2023

China Association of Automobile Manufacturers: China's share of the global automobile market in November reached 38%

Cui Dongshu, Secretary-General of the China Association of Automobile Manufacturers, stated in an article on November 30th that the global automobile sales from January to November 2023 reached 80.52 million units, an increase of 11% compared to the previous year. However, there is still a gap of 6% from the peak level in recent years, although the gap has narrowed. Due to the strong Chinese car market, global car sales in November are gradually approaching the peak, and the operation of the global automotive industry has significantly improved, resulting in improved sales for international car manufacturers. In November 2023, global car sales reached 7.83 million units, an increase of 13% compared to the same month in 2017, but still slightly lower by 7% from the peak in November 2017, reaching a second-highest level in recent years. Chinese car manufacturers accounted for 38% of the world market share in November 2023, and their cumulative share from January to November this year reached 33%.