According to the data of the Passenger Car Association, from January 1 to 28 this year, the retail sales of the passenger car market reached 17080,000 units, an increase of 64% compared to the same period last year. However, compared to the previous month, this figure is down 15%. Since the beginning of this year, the cumulative retail sales volume is 17080,000 units, up 64% y/y. In terms of wholesale, the wholesale volume of passenger car manufacturers nationwide from January 1 to 28 was 15770,000 units, up 52% y/y, but down 28% m/m. Since the beginning of this year, the cumulative wholesale volume is 15770,000 units, up 52% y/y.
The performance of the new energy vehicle market is also impressive. In terms of retail, the retail sales volume of the new energy vehicle market from January 1 to 28 was 5960,000 units, up 92% y/y, but down 24% m/m. Since the beginning of this year, the cumulative retail volume is 5960,000 units, up 92% y/y. In terms of wholesale, from January 1 to 28, the wholesale volume of new energy of passenger car manufacturers in China was 5670,000 units, up 76% y/y, but down 38% m/m. Since the beginning of this year, the cumulative wholesale volume is 5670,000 units, up 77% y/y.
In terms of inventory, as of the end of December 2023, the national passenger car inventory has dropped to 3.81 million units. Among them, the manufacturer's inventory is 780,000 units, and the channel inventory is 3.03 million units. At the end of December, the proportion of manufacturers' inventories was 205%, down 09 percentage points. From July to December 2023, the retail sales of passenger cars across the country continued to strengthen, and the overall production and sales of passenger vehicles such as new energy vehicles also performed strongly in December.