In October, the performance of China's automobile imports was better than last month. Growth was relatively rapid on the previous month, and growth was also relatively rapid over the previous year.
The Zhitong Finance App learned that according to data from the General Administration of Customs compiled by the China Association of Automobile Manufacturers, in October 2023, China's automobile imports performed better than last month, with relatively rapid growth on a rolling basis and a relatively rapid increase over the previous year. In October 2023, automobile imports increased 14.6% month-on-month and 6% year-on-year; vehicle import value increased 15.3% month-on-month, up 11.8% year-on-year.
From January to October 2023, automobile imports fell 14.7% year on year; vehicle import value decreased 16.2% year on year.
In October 2023, among the main types of automobile imports, compared with the previous month, the import volume of minibuses declined rapidly, and the import volume of cars and off-road vehicles both increased. Compared with the same period last year, the import volume of off-road vehicles increased rapidly, and the import volume of both cars and minibuses declined to varying degrees. The three types of automobiles mentioned above account for 92.6% of total automobile imports.
From January to October 2023, compared with the same period last year, the import volume of cars, SUVs, and minibuses all declined rapidly. The three types of vehicles mentioned above account for 91.0% of total automobile imports.