Full-year sales of new energy vehicles in China rose 160%

Fu Bingfeng, executive vice chairman of The China Association of Automobile Manufacturers, said at the 2022 China Automobile Market Development Forecast Summit held in Yibin, Sichuan Province on December 14 that China's annual sales of new energy vehicles are expected to reach 3.4 million units in 2021, up 160% year-on-year. The relevant person in charge of the data of China Automobile Introduced at the summit that The Chinese automobile market will maintain the growth of about 5% in the next few years.

Fu bingfeng pointed out that since June 2021, in particular, the monthly sales of new energy vehicles have continuously refreshed historical records, and the penetration rate has been increasing. In the first 11 months of this year, the cumulative production of new energy vehicles exceeded 3 million, and the sales volume was close to 3 million. In 2021, China's new energy vehicle sales are expected to reach 3.4 million units, up 160% year on year, according to caAM.

At the same time, China's auto exports have grown rapidly, accelerating its entry into overseas markets. Thanks to the gradual recovery of the international market, stable domestic supply capacity, as well as the explosion of new energy vehicle export and other positive factors, China's auto export has continued the growth trend since the fourth quarter of 2020, setting a new record for several months in a row, and it is expected that China's auto export in 2021 is expected to exceed 2 million units.

Driven by new energy and auto exports, Chinese brand passenger vehicles sold more than 8.4 million units in the first 11 months, accounting for more than 44 percent of total passenger vehicle sales, returning to a historic high.