The end of 3 consecutive years of decline In 2021, china's auto market production and sales rebounded

Author: Less words

On January 12, according to the Ministry of Industry and Information Technology, in 2021, the production and sales of automobiles in the Chinese market reached 26.082 million units and 26.275 million units, respectively, an increase of 3.4% and 3.8% year-on-year, ending the three consecutive years of decline since 2018.

It is understood that from 2018 to 2020, the automobile production in the Chinese market was 27.809 million units, 25.721 million units, and 25.225 million vehicles, and the sales volume was 28.081 million units, 25.769 million units, and 25.311 million vehicles, which declined for three consecutive years, and was also known as the "cold winter of the automobile market" in the market.

In 2021, China's automotive industry is facing adverse factors such as chip shortages and persistently high raw material prices. From the perspective of sales volume, the automobile market showed rapid growth in the first quarter of 2021 due to the low base of the same period; the growth rate slowed down in the second quarter; the third quarter was most affected by the lack of chip supply, and there was a sharp decline; and there was a clear recovery trend in the fourth quarter.

In 2021, the production and sales of passenger cars in the Chinese market reached 21.408 million units and 21.482 million units, respectively, an increase of 7.1% and 6.5% year-on-year, respectively, an increase of 3.7 percentage points and 2.7 percentage points higher than the industry growth rate.

In addition, in 2021, China's new energy vehicles ushered in rapid growth, and the annual production and sales of new energy vehicles reached 3.545 million units and 3.521 million units, respectively, an increase of 1.6 times year-on-year, and the market penetration rate reached 13.4%, 8 percentage points higher than in 2020.

According to data from the Ministry of Industry and Information Technology, according to the export statistics of vehicle enterprises, in 2021, 2.015 million vehicles will be exported, achieving a breakthrough of about 1 million vehicles that has been hovering around 1 million for many years.

(This article is for reference only and does not constitute investment advice, and you do so at your own risk)