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China auto industry will return to positive growth in 2021

July 08, 2021

Recently, China Association of Automobile Manufacturers released the auto production and sales data in 2020, China's auto production and sales in 2020 completed 25.225 million and 25.311 million, down 2% and 1.9% respectively compared with the same period last year, the decline was narrowed by 5.5 and 6.3 percentage points respectively compared with the previous year. 


China Association of Automobile Manufacturers (CAAM) estimates that vehicle sales in 2021 are expected to exceed 26 million units, achieving positive recovery growth.The number of new-energy vehicles is expected to reach 1.8 million, up 40 percent year on year.


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