Caucus of China Automobile: This year's automobile production and sales of 26.1 million vehicles The "14th Five-Year Plan" target is 30 million units

China Economic Network, December 17 (Reporter Chen Mengyu) China Association of Automobile Manufacturers predicts that 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, an increase of 5.6% year-on-year; Commercial vehicle sales were 4.8 million units, down 6.4% year-on-year; Sales of new energy vehicles increased by 1.5 times year-on-year to 3.4 million units.

China's total auto sales in 2022 are expected to be 27.5 million units, up 5.4% year-on-year, of which passenger car sales are 23 million units, up 8% year-on-year; Commercial vehicle sales were 4.5 million units, down 6% year-on-year; Sales of new energy vehicles were 5 million units, up 47% year-on-year.

Image source: China Association of Automobile Manufacturers

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.

Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, said that overall, China's automobile 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. Although China's automobile market fluctuated in 2018, throughout history, developed countries in 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.