China's vehicle exports increased by 9.8% in October

According to the China Association of Automobile Manufacturers (CAAM), passenger vehicle production in China increased by 6% year-on-year to 20.73 million during January-October. Vehicle sales, on the other hand, were recorded at 20.66 million, an increase of 7.5% in the same period.

Only in October, the production of passenger vehicles increased by 7.6% and 2.51 million units were produced. Commercial vehicle production increased by 42.7% year-on-year to 378,000. Commercial vehicle sales, on the other hand, increased by 33.4% year-on-year and reached 365,000. January-October commercial vehicle production increased by 22.1% year-on-year.

In addition, China's vehicle exports also increased by 9.8% in October alone, reaching 488,000 units.

CAAM stated that China's vehicle exports could exceed 4.5 million by the end of 2023. This means the upward movement of sales in the last two months.