CAAM: Forecasts 47% year-on-year increase in China's new energy vehicle sales in 2022

According to the "China Automobile Association Data" WeChat public account news, the China Automobile Association predicts that in 2022, China's total automobile sales will be 27.5 million vehicles, an increase of 5.4% year-on-year, of which the sales of new energy vehicles will be 5 million, an increase of 47%.

Talking about the development of China's auto market in 2022, Chen Shihua, deputy secretary-general of the China Automobile Association, believes that overall, China's auto market will maintain a moderate growth trend in the future. From the perspective of long-term development, the current Chinese market is still in the transition stage from the early stage of popularization to the late stage of popularization, and the sales of new cars have gradually shifted from the incremental market to the stock market.

He said that although China's automobile market fluctuated in 2018, throughout history, the developed countries of automobiles have also fluctuated for about 2-4 years in the popularization stage. Judging by this law, the production and sales of China's automobile market are currently at the end of short-term adjustment and will maintain a moderate growth trend in the future.

According to caucus forecasts, China's total automobile sales in 2021 will be 26.1 million units, 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.

According to reports, on the whole, during the "14th Five-Year Plan" period, factors such as macroeconomic recovery, the improvement of the economic situation 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. (Zhongxin Jingwei APP)