Overall sales of automotive vehicles in China are expected to reach 26.10 million units in 2021, up 3.1 percent year on year, according to the China Association of Automobile Manufacturers (CAAM).
In particular, sales of passenger vehicles will likely amount to 21.3 million units, up 5.6 percent year on year, while sales of commercial vehicles will total 4.8 million units, down 6.4 percent, and the sales of new energy vehicles will reach 3.4 million units, up 1.5-fold year on year.
At the same time, CAAM has forecast that the sales of automotive vehicles in China are expected to reach 27.5 million units in 2022, up 5.4 percent year on year, including 23.0 million units of passenger vehicles, up eight percent, 4.5 million units of commercial vehicles, down six percent, and 5.0 million units of NEV, up 47 percent year on year.
During the 2021-25 period, China’s auto industry will likely face a bright future amid the macroeconomic recovery, the improved situation of low-and middle-income groups, and policy support from the government. By 2025, the overall sales of vehicles are expected to reach 30.0 million units.