China's new energy vehicle sales pre-increase by 160%

Fu Bingfeng, executive vice president of the China Association of Automobile Manufacturers, said at the "2022 China Auto Market Development Forecast Summit" held in Yibin, Sichuan province on December 14 that it is expected that the annual sales of new energy vehicles in China in 2021 are expected to reach 3.4 million units, an increase of 160% year-on-year. The person in charge of China Automobile Data introduced at the summit that China's auto market will maintain a growth of about 5% in the next few years.

Fu Bingfeng pointed out that especially since June 2021, the monthly sales of new energy vehicles have continuously refreshed the historical record, and the penetration rate has continued to increase. In the first 11 months of this year, the cumulative output of new energy vehicles exceeded 3 million, and sales were close to 3 million. Caambiz expects China's new energy vehicle sales to reach 3.4 million units in 2021, up 160% year-on-year.

At the same time, China's automobile exports have grown rapidly, accelerating their entry into overseas markets. Thanks to the gradual recovery of the international market, the stability of domestic supply capacity, and the explosive growth of new energy vehicle exports, China's automobile exports have continued the growth trend since the fourth quarter of 2020, breaking the historical record for several consecutive months, and it is expected that China's automobile exports in 2021 are expected to exceed 2 million.

Driven by the "dual drive" of new energy and automobile exports, Chinese brand passenger cars sold more than 8.4 million units in the first 11 months, accounting for more than 44% of total passenger car sales, returning to a record high.