Chen Shihua, vice secretary of the China Association of Automobile Manufacturers (CAAM), has forecast that vehicle output and sales in China in 2020 will likely decrease by around four percent year on year.
In the January-September period this year, production and sales of automotive vehicles in China totaled 16.957 million units and 17.116 million units, down 6.7 percent and 6.9 percent year on year, according to CAAM. This means that output and sales will gradually rebound in October-December, thereby reducing the decrease rate for the full year to four percent.
However, vehicle output and sales in 2021 will likely increase slightly due to the expected economic growth.