China Association of Automobile Manufacturers: The decline in profits in the automobile manufacturing industry continued to narrow significantly from January to September 2022

According to data from the National Bureau of Statistics compiled by the China Association of Automobile Manufacturers, in September 2022, driven by factors such as the recovery of the industrial chain and supply chain and the growth of new energy vehicle production, profits increased by 47.4%.

From January to September 2022, the profit of the automobile manufacturing industry was 370.68 billion yuan, a year-on-year decrease of 1.9%, a decrease of 5.4 percentage points from January to August, accounting for 5.9% of the total profit of industrial enterprises above designated size.