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China’s car shipments to top 30 million units in 2023, with exports approaching 5 million units.

China’s vehicle shipments in 2023 have exceeded 30 million units, according to the China Association of Automobile Manufacturers (CAAM).

In addition to a rebound from the stalling of the Chinese economy and a drop in demand for commercial vehicles caused by the spread of the new coronavirus in 2022, the increase in exports of both passenger cars and commercial vehicles boosted shipments.

With NEVs playing a prominent role in the overseas expansion of the market, the number of exported vehicles in 2023 will be approximately 4,910,000 units, of which the number of passenger cars exported is on an expansion trend, increasing by 63.7% year-on-year to 4,140,000 units. The increase in exports was partly due to the growth in sales of Chinese manufacturers in the Russian market, where European, US and Japanese manufacturers have withdrawn due to geopolitical risks.

Meanwhile, domestic production and domestic sales in the CALI database grew by 5.9% to 21.11 million units, while the size of the domestic market, including imports, grew by 6.0% year-on-year.The analysis is based on Chinese vehicle sales data for the full year 2023, and includes the top-ranking vehicles by segment, powertrain and imports. models, etc.