The production and sales of new energy vehicles exceeded 3.5 million last year

On January 12, the latest statistics released by the China Automotive Industry Association (hereinafter referred to as the "China Auto Association") showed that in 2021, China's automobile production and sales completed 26.082 million vehicles and 26.275 million vehicles respectively, increasing by 3.4% and 3.8% year on year respectively, ending the three-year continuous downward trend. At the same time, sales of new energy vehicles in China totaled 3.521 million vehicles, an increase of 1.6 times year on year, ranking first in the world for seven consecutive years. The new passenger car market with combined auxiliary driving system accounts for 20%.

"According to Fu Bingfeng, executive vice chairman and secretary-general of the China Auto Association, from the perspective of vehicle sales in 2012, the automotive market showed rapid growth year-on-year in the first quarter due to the low base in the same period, and the growth rate slowed down in the second quarter. The third quarter was most affected by the shortage of chip supply, with a substantial decline. The fourth quarter recovered significantly better than expected." It ensures a steady and positive growth trend throughout the year.

In terms of passenger vehicles, in 2021, production and sales of 21.408 million and 21.482 million passenger vehicles respectively increased by 7.1% and 6.5% year on year, respectively, higher than industry growth of 3.7 percentage points and 2.7 percentage points. Promoted by the strong domestic consumer market, the passenger car market in China has exceeded 20 million vehicles for 7 consecutive years.

The journalist of Securities Daily noticed that along with the gradual improvement of residents'income level, the automobile market in China has shown an obvious upward trend of consumption. In 2021, sales of high-end brand passenger vehicles increased by 20.7% over the previous year, accounting for 16.2% of total passenger vehicle sales and 1.9% over the previous year.

At the same time, commercial vehicle production and sales completed 4.674 million and 4.793 million in 2021, respectively, down 10.7% and 6.6% year on year. Looking at the trend of commercial vehicles throughout the year, production and sales showed significant growth in the first quarter due to the low base during the same period, sales began to decline year on year in the second quarter, and the decline trend was more obvious in the second half of the year.

"China's total automobile production and sales has ranked first in the world for 13 consecutive years, and has made great progress in the fields of'electronization, networking and intelligence'." As a big automobile country, China has further consolidated its position and is making progress towards a strong automobile country.

China Auto Association estimates that total vehicle sales in 2022 will reach 27.5 million vehicles, an increase of about 5% year on year. Of these, 23 million passenger vehicles, an increase of 7% year on year; Commercial vehicles are 4.5 million, down 6% year on year; New energy vehicles will reach 5 million, a 42% year-on-year increase, and a market share of more than 18% is expected.