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China’s auto sales to reach 27.5 million in 2022, up 5.4%

BEIJING – Cars for sale in China, the world’s largest car market, will likely grow 5.4% to 27.5 million units by 2022, the country’s top auto industry body said.

In a statement published on the official WeChat account, the China Association of Automobile Manufacturers (CAAM) said that in total new energy vehicle sales are expected to grow 47% to 5 million. pcs.

For 2021, CAAM expects sales to grow 3.1% year-on-year to 26.1 million units, with new energy vehicle sales up 1.5 times to 3.4. million pcs.

Disrupted by persistent global semiconductor shortage, China car sales fell 9.1% in November from a year earlier, marking their seventh consecutive monthly decline, CAAM data showed earlier this month.

(Reporting by Sophie Yu and Brenda Goh; Editing by Devika Syamnath)

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