CAAM: Total vehicle sales in China expected to reach 27.5 million units in 2022, up 5.4% year-on-year

According to the china automobile association data WeChat public account news on December 17, according to the China Association of Automobile Manufacturers, China's total automobile sales in 2021 will be 26.1 million vehicles, an increase of 3.1% year-on-year. Among them, passenger car sales were 21.3 million units, up 5.6% year-on-year; commercial vehicle sales were 4.8 million units, down 6.4% year-on-year; and new energy vehicle sales were 3.4 million units, up 1.5 times year-on-year. In 2022, China's total automobile sales were 27.5 million units, an increase of 5.4% year-on-year, of which passenger car sales were 23 million units, an increase of 8% year-on-year; commercial vehicle sales were 4.5 million units, down 6% year-on-year; and new energy vehicle sales were 5 million units, an increase of 47% year-on-year.

Overall, during the "14th Five-Year Plan" period, factors such as macroeconomic recovery, improved economic conditions of middle- and low-income groups, and policy support at the national policy level will promote the good development of China's auto market. In 2025, China's auto market is expected to reach about 30 million vehicles.