China Automakers Miss 2023 Sales Goal as Competition Intensifies

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The misses came even as total sales of battery-electric vehicles and plug-in hybrids rose 38% last year to 8.88 million units. Photo: Bloomberg

(Bloomberg) — Just a third of Chinese automakers met their annual sales goal in 2023 as competition in the world’s largest car market heats up.

Only four of the 13 brands that have disclosed annual sales figures so far accomplished their targets, led by electric-vehicle (EV) maker Li Auto Inc., which delivered 376,030 vehicles in 2023 — exceeding its original goal of 300,000 by 25%.

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