The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
BEIJING / WAM
China’s auto production and sales surpassed 30 million units for the first time in 2023, retaining the country’s leadership as the world’s largest car market for the 15th consecutive year, People’s Daily reported.
According to recent data released by the China Association of Automobile Manufacturers (CAAM), automobile sales in China reached a total of 30.094 million units, while the production figure amounted to 30.161 million units, thereby consolidating China’s position as the foremost global producer and consumer of automobiles.
China has also maintained its top position in the production and sales of new energy vehicles (NEVs) for the ninth consecutive year, with over 9 million NEVs manufactured and sold.
Additionally, automobile exports reached nearly 5 million units in 2023, reflecting a remarkable year-on-year increase of 57.9 percent. This growth underscores the escalating global competitiveness of Chinese car manufacturers, particularly in the field of New Energy Vehicles (NEVs).
“This new record is the result of the collective efforts of the entire auto industry,” said CAAM Executive Vice President Fu Bingfeng. He attributed the milestone to China’s massive market scale and robust consumption potential.