As previously reported by SteelOrbis, in January of the current year, sales of automotive vehicles in China are expected to reach 2.54 million units, down 9.35 percent month on month, up 31.9 percent year on year, according to the China Association of Automobile Manufacturers (CAAM).
Xu Haidong, deputy chief engineer at CAAM, has said he thought 2020 already marked the bottom of the development trend of China’s automobile industry in recent years, and that the industry will move into a steadily rising development period. Especially in 2021, which is the beginning of China’s 14th five-year plan period, China’s policy for the auto industry will be stable and continuous, which will exert a positive impact on the industry, Mr. Xu noted.
“It is expected that auto output and sales will see a rise, to around 30 million units. In particular, the sales of passenger vehicles and commercial vehicles are expected to indicate a year-on-year rise of 7.5 percent and a year-on-year decline of 10 percent in 2021, while sales of new energy vehicles will amount to 1.8 million mt, up 40 percent year on year,” as Xu said.