China Automobile Association： Automobile production and sales are expected to hit a record high this year, exceeding the forecast target.

China Automobile Association expects that the China auto market will usher in a perfect ending in 2023.

On December 11th, according to the data of China Automobile Industry Association, in November this year, the production and sales of automobiles were 3.093 million and 2.97 million respectively, up 7% and 4.1% from the previous month and 29.4% and 27.4% from the same period last year. In November, the performance of the automobile market continued to improve, exceeding expectations. The automobile output reached a record high and the sales volume was close to 3 million.

From the perspective of the whole year, from January to November, the production and sales of automobiles were 27.111 million and 26.938 million, respectively, up by 10% and 10.8% year-on-year, and the growth rate was 2 and 1.7 percentage points higher than that in January-October.

According to the China Automobile Association, in November, the auto market continued to be hot. With the help of the "double 11" promotion and other consumer waves, the demand for car purchase was further released, and the market performance continued to improve and exceeded expectations. In the same month, the production and sales of automobiles increased year-on-year, passenger cars continued their good trend, commercial vehicles maintained rapid growth, and new energy vehicles and automobile exports led the growth of the industry.

The China Automobile Association believes that in the same month, the production and sales of automobiles increased year-on-year, and new energy vehicles and automobile exports played a strong supporting role. Specifically, in November, the domestic sales volume of automobiles was 2.488 million, up 5.2% from the previous month and 24.3% from the same period last year. Automobile exports reached 482,000 vehicles, down 1.1% month-on-month and up 46.3% year-on-year. From January to November, the domestic sales of automobiles reached 22.526 million, up 4.7% year-on-year; Automobile exports reached 4.412 million vehicles, a year-on-year increase of 58.4%.

As far as new energy vehicles are concerned, the domestic sales volume in November was 929,000, up 11.7% from the previous month and 33.9% from the same period last year. The export of new energy vehicles was 97,000 vehicles, a decrease of 21.8% from the previous month and a year-on-year increase of 1.6%. From January to November, the domestic sales volume of new energy vehicles was 7.212 million, a year-on-year increase of 31.7%; New energy vehicles exported 1.091 million vehicles, up 83.5% year-on-year.

In view of December, the China Automobile Association expects that with the continuous emergence of policy effects, auto shows and promotional activities in various places will continue to exert their strength, and in addition, enterprises will finish their sprint in the last month. It is expected that the auto market will continue to improve in December, reappearing the phenomenon of "tail-jumping" at the end of the year.According to the judgment of China Automobile Association, automobile production and sales are expected to hit a record high throughout the year, exceeding the expected annual forecast target.

In December, 2022, China Automobile Association predicted that the total automobile sales in China in 2023 would be 27.6 million, up 3% year-on-year. Among them, the sales volume of passenger cars was 23.8 million, the sales volume of commercial vehicles was 3.8 million and the sales volume of new energy vehicles was 9 million.