Auto sales in China are heading for a rebound this year, rising 2% in fall 2020

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Sales in the world’s largest auto market rose 6.4% in December from a year earlier to 2.83 million vehicles. But the pace of growth slowed sharply after rising 12.6% year-on-year in November.


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Auto sales in China fell 1.9% to 25.3 million vehicles last year from 2019.

Vehicle sales in China fell for a third consecutive year in 2020, but year-over-year sales increased for a ninth consecutive month in December as the country continued to lead the recovery in the auto industry global after the COVID-19 pandemic.

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Auto sales in China fell 1.9% to 25.3 million vehicles last year from 2019.

Sales in the world’s largest auto market increased 6.4% in December from a year earlier to 2.83 million vehicles. But the pace of growth slowed sharply after rising 12.6% year-over-year in November.

The Chinese auto industry was hit hard by the pandemic early last year, but began to rebound in the second quarter of 2020 along with the rest of the economy as the country succeeded in largely bringing the coronavirus under control.

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Automakers, including Toyota and Great Wall Motor, saw sales growth in China last year.

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China’s auto industry was hit hard by the pandemic early last year, but began to rebound in the second quarter of 2020

Passenger vehicle sales fell 6% for the whole of 2020, according to data from the China Association of Automobile Manufacturers (CAAM).

For commercial vehicles, which account for about a quarter of the overall market, sales jumped 19%, driven by government investment in infrastructure and as buyers upgraded to comply with regulatory rules. ‘stricter emissions.

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Sales of new energy vehicles (NEV) in 2020 increased by 11% compared to 2019 to 1.37 million units. NEVs include battery electric vehicles, plug-in gasoline-electric hybrid vehicles and hydrogen fuel cell vehicles.

CAAM said last month that it forecasts an increase in vehicle sales of around 4% to 26.3 million vehicles in 2021, thanks to favorable government policies and discounts from automakers.

(This story was not edited by The Bharat Express News on Social Platforms.)

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