In the January-November period this year, production and sales of automotive vehicles in China amounted to 27.903 million units and 27.94 million units, increasing by 2.9 percent and 3.7 percent year on year, respectively, with the growth rates 1.1 percentage points and 1.0 percentage point faster compared to those recorded in the January-October period, according to the China Association of Automobile Manufacturers (CAAM).
In November alone, production and sales of automotive vehicles in China amounted to 3.437 million units and 3.316 million units, increasing by 14.7 percent and 8.6 percent month on month, while rising by 11.1 percent and 11.7 percent year on year, respectively.
CAAM stated that, due to the accumulative effect of stimulus policies, and vehicle enterprises’ promotional activities in December, the auto market will continue to perform well during the month. Meanwhile, CAAM has forecast that production and sales of automotive vehicles in China will remain above 30 million units in 2024.