CAAM: China’s car sales to hit 30 million units in 2023 and 31 million units by 2024

At the 2024 China Automobile Market Development Forecast Summit held today, Xu Haidong, deputy chief engineer of the China Association of Automobile Manufacturers, said that total automobile sales in 2023 will be about 30 million units, a year-on-year increase of 11.7%. Among them, passenger cars are expected to be about 26 million units; commercial vehicles are expected to be about 4 million units; new energy vehicles are expected to be about 9.4 million units. China Automotive Industry Association also predicts that total vehicle sales in 2024 will be about 31 million units, including about 26.8 million passenger cars, about 4.2 million commercial vehicles, 11.5 million new energy vehicles, and about 5.5 million units for exports.