On April 10, China Association of Automobile Manufacturers (hereinafter referred to as "CAAM") held a monthly information conference to introduce the production and sales situation of the automobile industry in March. The data showed that in March, automobile production and sales were completed 2.687 million units and 2.694 million units, an increase of 78.4% and 70.2% sequentially, and an increase of 4% and 9.9% year-on-year.20 In the first quarter of 2014, automobile production and sales were completed 6.606 million units and 6.720 million units, an increase of 6.4% and 10.6% year-on-year, respectively.

　　CCA analyzed that after the Spring Festival enterprise production and business activities accelerated, the manufacturing boom surface significantly expanded, back to the expansion zone, the market is expected to continue to improve; and therefore, continue to drive the first quarter of the automotive industry's economic operation started smoothly, to achieve a good start.

　　From the overall situation, automobile production and sales showed faster growth, passenger cars and commercial vehicles have good performance; new energy vehicles to continue the momentum of rapid growth, market share stabilized at 30%; vehicle exports still maintain a high level, continue to play a positive role in pulling industry growth; Chinese brands continue to move upward, the market share remains high.

　　In March, the production and sales of commercial vehicles completed 437,000 and 458,000 units respectively, an increase of 88.1% and 82.8% over the previous year, and an increase of 0.7% and 5.6% year-on-year. Among the main varieties of commercial vehicles, compared with the previous month, the production and sales of buses and trucks showed significant growth; compared with the same period of last year, the production and sales of buses and trucks showed different degrees of growth, of which the growth rate of buses was more significant.

　　In March, in the truck sub-species, compared with the previous month, the four categories of truck varieties production and sales were rapid growth; compared with the same period last year, medium-sized trucks and mini-vans production and sales were double-digit growth, heavy-duty trucks and light trucks, production declined, sales increased slightly. In the bus varieties, compared with the previous month, the three major types of bus varieties production and sales were marked growth; compared with the same period last year, large buses and medium-sized bus production and sales were faster growth, light bus production fell slightly, sales were double-digit growth.

　　In March, truck production and sales were completed 388,000 and 405,000 units, an increase of 91.1% and 88.4%, respectively, year-on-year growth of 0.2% and 4.1%; bus production and sales were completed 50,000 and 53,000 units, an increase of 67.4% and 48.7%, respectively, year-on-year growth of 4.2% and 17.7%.

　　In the first quarter of 2024, commercial vehicle production and sales totaled 997,000 units and 1,033,000 units, up 5.1% and 10.1% year-on-year, respectively. Among the main varieties of commercial vehicles, compared with the same period of the previous year, the production and sales of buses and trucks showed different degrees of growth.

　　In the first quarter of 2024, the production and sales of trucks were completed at 883,000 units and 919,000 units respectively, representing year-on-year increases of 4.4% and 9.7%, while the production and sales of buses were completed at 114,000 units, representing year-on-year increases of 11.3% and 13.6% respectively.

　　In the first quarter of 2024, in the main varieties of trucks, compared with the same period of the previous year, the production of light trucks decreased slightly, sales increased slightly, and the other three major types of trucks production and sales were different degrees of growth. In the main varieties of buses, compared with the same period of the previous year, the production and sales of the three major types of bus varieties have shown varying degrees of growth, of which medium-sized buses have the most significant growth rate.