The end of the year has arrived, and all walks of life have begun to look forward to the new year, including the automotive industry. On December 17, Zhichepai learned from the China Association of Automobile Manufacturers that china's total automobile sales are expected to be 26.1 million units in 2021, an increase of 3.1% year-on-year, and China's total automobile sales in 2022 will be 27.5 million units, an increase of 5.4% year-on-year. Moreover, with the improvement of the economy and the blessing of policies, China's auto market will maintain a moderate growth trend in the future.
China's auto market forecast for 2021 and 2022
Specifically, passenger car sales in 2021 are forecast to be 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, passenger car sales are forecast to be 23 million units, up 8% year-on-year; commercial vehicle sales are 4.5 million units, down 6% year-on-year; and new energy vehicle sales are 5 million units, up 47% year-on-year, surpassing the number of commercial vehicles sold.
New energy vehicles
Overall, China's new car sales have gradually shifted from the incremental market to the stock market, of which the market for new energy vehicles will expand significantly in the future. In addition, the China Association of Automobile Manufacturers also predicts that china's auto market is expected to reach about 30 million vehicles in 2025. In this way, there is still a possibility of unlimited development in China's automobile market.