Record High for New Energy Vehicle Production and Sales in September: CAAM Reports Unexpected Growth in 2023 Sales

From January to September, the cumulative sales of pure electric vehicles in China reached 7.22 million units, a year-on-year increase of 44.7%. The cumulative sales of plug-in hybrid vehicles amounted to 4 million units, with a year-on-year growth of 20.4%. During the same period, the cumulative sales of fuel cell vehicles were only 2,200 units, a year-on-year decline of 46.6%.

On October 14, the China Association of Automobile Manufacturers (CAAM) disclosed the above data. According to CAAM's data, from January to September, pure electric vehicles stood out as the most prominent type of new energy vehicles in terms of both year-on-year growth and scale.

In China, currently, new energy vehicles and traditional fuel vehicles are nearly on equal footing. According to data from the China Association of Automobile Manufacturers (CAAM), in September, the production and sales of new energy vehicles reached 1.617 million and 1.604 million units, respectively, representing year-on-year growth of 23.7% and 24.6%. The sales of new energy vehicles accounted for 49.7% of the total sales of new cars. From January to September, the production and sales of new energy vehicles totaled 11.243 million and 11.228 million units, respectively, with year-on-year growth of 35.2% and 34.9%. The sales of new energy vehicles accounted for 46.1% of the total sales of new cars.

"This year, the sales growth of new energy vehicles in our country has exceeded expectations," said Chen Shi Hua, deputy secretary-general of the China Association of Automobile Manufacturers, to the media.China Business JournalThe reporter stated, "Despite a high base, the year-on-year growth rate of new energy vehicle sales in China has still exceeded 30%, which can be considered quite high. Meanwhile, the market share of new energy vehicles in China is also continuously increasing."

The export growth rate of new energy vehicles in China is significantly higher than that of the domestic market. According to data from the China Association of Automobile Manufacturers (CAAM), in September, the domestic sales of new energy vehicles reached 1.382 million units, a month-on-month increase of 18% and a year-on-year increase of 17.5%. From January to September, the domestic sales of new energy vehicles totaled 9.47 million units, a year-on-year increase of 28.1%. In September, the domestic sales of new energy vehicles accounted for 53.7% of the total domestic automobile sales. From January to September, the domestic sales of new energy vehicles accounted for 48.8% of the total domestic automobile sales.

In terms of overseas exports, in September, China exported 222,000 new energy vehicles, a year-on-year increase of 100%. From January to September, China exported 1.758 million new energy vehicles, a year-on-year increase of 89.4%.

Plug-in hybrid vehicles have driven the continued high-speed growth of China's new energy vehicle exports. According to data from the China Association of Automobile Manufacturers (CAAM), in September, exports of pure electric vehicles reached 153,000 units, a year-on-year increase of 72.3%, while exports of plug-in hybrid vehicles reached 69,000 units, a year-on-year increase of 2.2 times. From January to September, exports of pure electric vehicles totaled 1.13 million units, a year-on-year increase of 54.6%, and exports of plug-in hybrid vehicles totaled 628,000 units, a year-on-year increase of 2.2 times.