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2022 China Auto Market Forecast

Views:0     Author:Wondee Autoparts     Publish Time: 2021-12-22      Origin:Wondee Autoparts

On December 14, 2021, the "2022 China Auto Market Development Forecast Summit & Investment Cooperation Conference" was held in Yibin, Sichuan, China.

2022 China auto market forecast


At the meeting, Chen Shihua, Deputy Secretary General of China Automobile Industry Association, made a comprehensive and in-depth study and judgment on the development of China's automobile market in 2022. He believes that, on the whole, China's auto market will maintain a moderate growth trend in the future. In terms of long-term development, the current Chinese market is still in the transition stage from the initial stage of popularization to the later stage of popularization, and the sales of new cars have gradually shifted from the incremental market to the stock market. Although China's auto market fluctuated in 2018, throughout history, automobile developed countries also fluctuated for about 2-4 years in the popularization stage. Judging from this law, the production and sales of China's automobile market is at the end of short-term adjustment, and will maintain a moderate growth trend in the future.


China's Automobile Market Forecast in 2021 and 2022




Unit: x10,000 Vehicles

2020 2021F Year-on-year   growth rate 2022F Year-on-year   growth rate
Total Sales 2531 2610 3.12% 2750 5.36%
Passenger Car 2018 2130 5.55% 2300 7.98%
Commercial   Vehicle 513 480 -6.43% 450 -6.25%
New Energy   Vehicle 137 340 148.18% 500 47.06%

According to the prediction of China Automobile Industry Association, China's total automobile sales in 2021 will be 26.1 million, a year-on-year increase of 3.1%. Among them, the sales volume of passenger cars will be 21.3 million, a year-on-year increase of 5.6%; The sales volume of commercial vehicles will be 4.8 million, a year-on-year decrease of 6.4%; The sales volume of new energy vehicles will be 3.4 million, a year-on-year increase of 1.5 times. In 2022, China's total automobile sales volume will be 27.5 million, a year-on-year increase of 5.4%, of which the sales volume of passenger cars will be 23 million, a year-on-year increase of 8%; The sales volume of commercial vehicles will be 4.5 million, a year-on-year decrease of 6%; The sales volume of new energy vehicles will be 5 million, a year-on-year increase of 47%. On the whole, during the "14th Five-Year-Plan" period, the macroeconomic recovery, the improvement of the economic situation of low - and middle-income groups and the policy support at the national policy level will promote the good development of China's automobile market. By 2025, China's auto market is expected to reach about 30 million vehicles.


From: China Association of Automobile Manufacturers

Translated by; WONDEE Autoparts

2021/12/22

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