CAAM News
CAAM (China Association of Automobile Manufacturers): China produced 2.4 mln new cars and sold 2.39, down by 6.2% and 9% m-o-m and down by 2.2% and 1.4% y-o-y respectively. During the first seven months of 2023, China’s car production and sales were 15.65 mln and 15.63 mln, up by 7.4% and 7.9% y-o-y respectively.
Production and sales of NEVs was 805,000 and 780,000 in July, up by approximately 31% and 32% y-o-y with a market penetration rate of 32.7%. During the first seven months of 2023, sales of NEVs were 4.59 mln and 4.53 mln respectively, up by 40% and 41.7% y-o-y respectively, with a market penetration rate of 29%.
