CAAM: December Auto Sales Down 4.6% MoM, 6.2% YoY

According to the latest data from the China Association of Automobile Manufacturers (CAAM), in December 2023, China produced and sold 3.296 million and 3.272 million vehicles, respectively. Compared with November, production and sales declined by 6.7% and 4.6%, respectively. Year-on-year, production dipped slightly by 2.1%, while sales dropped by 6.2%. Overall, the automotive market showed signs of weakness at year-end, with both production and sales declining on both a month-over-month and year-over-year basis.