Wk 02 Electronics Supply Chain Digest

Electronics Supply Chain Weekly Digest 1-12-23.

DATAPOINT OF THE WEEK: China passenger car production and sales hit 26.1M and 26.0M in 2023, increasing 8%/6% respectively, and surpassing the previous record of 24.2M/24.7M units in 2017, according to data from the China Association of Automobile Manufacturers (CAAM).

NEV production in sales topped 9.5M for the year, increasing 36%, and accounting for 37% of share. China exported 4.16M passenger cars in 2023, a 65% increase Y/Y driven by strong demand for cars from Russia. Passenger NEVs exports increased 74% to 1.13M. Excluding exports China passenger car consumption increased 4.2% to 21.9M which compares to the peak of 2017 of 23.8M. 

Commercial vehicle production and sales were also strong in 2023 at 4M recovering from the 3.2M trough in 2022, but still below the peak of 5.2M reached in 2020. According to CAAM passenger and commercial car sales are forecasted to increase 3%/4% in 2024 while NEV sales are forecast to increase 21% Y/Y to 11.5M while export units are forecasted to increase by 12%.






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