China’s auto sales in 2021 are expected to increase by 4pc from the previous year, according to media reports citing the China Passenger Car Association (CPCA). The association said that demand for vehicles is steady due to the efficient control of the COVID-19 pandemic and the stimulus offered by the government.
The association said the passenger vehicle (PV) sales in the country during 2021 are likely to grow by 8pc from the preceding year.
It said that the continued strengthening of luxury auto brands and export business, the booming sales of Japanese brands, growth in SUV sales, and a rebound in new energy vehicle (NEV) sales drove the 2020 PV sales and is expected to continue in 2021.
China’s commercial vehicle (CV) sales may reach 4.4mn units in 2021 as demand for medium-/heavy-duty trucks, especially tractors grew in 2020 driven by epidemic control efforts, infrastructure construction, logistics business, governmental incentives, and other economic stimulus policies.
In 2020, China produced 19.60mn mt units of PVs, including cars, MPVs, SUVs, and minibusses, declining by 6.8oc from 2019, according to the CPCA.