New Energy Vehicle Exports Surge by 47.4% in Jan 2024. (Data Released by China Machinery Industry Federation.)

Significant Growth in China’s Automobile Production and Sales in January 2024.

New Energy Vehicles Maintain High-speed Growth Momentum.

Market Expansion of Machinery Industry Slows Down, New Order Scale Grows Steadily.

Foreign Trade Starts Well.

Data Source: China Machinery Industry Federation.

Analysis:

  • In January, both automobile production and sales in China showed significant growth, with YoY growth rates of 51.2% and 47.9% respectively. Among them, new energy vehicles continued to maintain a high-speed growth momentum, with both production and sales increasing by more than 80% YoY.
  • Since the beginning of this year, the cooperation of industrial chains in the machinery industry has deepened, and integration and development have accelerated. The scale of new orders has steadily increased, especially in the fields of electric power equipment, new energy equipment, and environmental protection equipment. The driving effect on the stable development of the whole industry continues to be released.

The foreign trade of the machinery industry has started well. In January, automobile exports increased by 47.4% YoY, and loader exports increased by 6.3% YoY, which has been increasing for the third consecutive month.

write by Alice LV

alice@fewheelweights.com

www.fewheelweights.com

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