2023-12-12 07:29:55
The China Automobile Manufacturers Association expects sales in the country to reach regarding 31 million units in 2024, an increase of 3% from 2023.
The association’s estimates, published by Archyde.com on Tuesday, indicated that passenger car sales in China are expected to rise 3.1% to 26.8 million units next year, slowing from a 10.3% increase this year.
The data showed that sales of new energy vehicles in China are also set to decline, with a growth of 20% in 2024, compared to a jump of 36.5% in 2023, while car exports are expected to rise to regarding 5.5 million from 4.8 million this year.
Xu Haidong, a senior official in the association, said that China’s auto market will face challenges from shrinking demand, supply shocks and weak expectations in 2024.
Retail sales of passenger cars in China reached regarding 2.97 million units last November, an increase of 27.4% on an annual basis and 4.1% on a monthly basis.
The data showed that during the first 11 months of this year, vehicle production and sales reached 27.11 million units and 26.94 million units, an increase of 10% for production and 10.8% for sales on an annual basis.
The data also revealed that from January to November, the production and sales of new energy vehicles in China reached 8.43 million units for production and 8.3 million units for sales, an increase of 34.5% and 36.7% year on year.
(Archyde.com, Al-Arabi Al-Jadeed)
1702367133
#Expected #sell #million #cars