Wk 42 Electronics Supply Chain Digest

Electronics Supply Chain Weekly Digest 10-13-23


China NEV retail sales in September reached 746K units surpassing the 700k mark for the second time, according to China Passenger Car Association (CPCA) data, reflecting 22% Y/Y and 4.2% M/M increase. The figure, however, missed the 750K estimate from CPCA at the end of August. BEV accounted for 500K retail units up 9% Y/Y and 1.9% M/M. PHEV sales totaled 246K units, up 60% Y/Y and 9.2% M/M.

Total auto retail sales in September reached 2.018 million units, up 5% Y/Y and M/M, reflecting the strongest Y/Y growth since May 2023. NEVs accounted for 37% of all light vehicle sales, consistent with the prior month but up from 32% a year ago. Exports grew 50% in September year-on-year following a 31% gain in August, the data showed. According to the China Association of Automobile Manufacturers (CAAM), production of passenger vehicles in September totaled 2.496M, up 10% Y/Y and 4% M/M while production of commercial vehicles totaled 350K, up 35% Y/Y and 18% M/M, both surpassing expectations. According to CAAM officials China auto sales are expected to exceed the initial target of 3% growth for the year with volume likely exceeding the market peak from 2017. 3Q23 China retail sales increased 2% Y/Y while wholesale sales were flat.







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