China Automotive Market

2020 2021 2022 values are estimates.

China automotive market. The chinese car market has declined every single month in 2019 which means it has continued its losing streak to 18 consecutive months. The traditional big four domestic car manufacturers are saic motor dongfeng faw and chang an. Since 2009 annual production of automobiles in china exceeds that of the european union or that of the united states and japan combined.

Chinese auto market keeps recovering in august 2020 posting the fourth positive month in a string. As such we believe the current downturn will be short lived and the future of automotive in china remains bright. One little ray of hope is that december 2019 showed the lowest rate of declines of the streak at 0 9 and all the double digit losses were limited to the first half of the year.

Over the last decade china s automotive industry has been in overdrive growing at an average 15 percent each year and accounting for 70 percent of global growth during this period by 2012 china surpassed the united states as the world s largest auto market. China s car market has been hurt less by virus and is reviving faster than others. China remains the world s largest automotive market and it exhibits strong demand from both prospective and existing car owners and for both new cars and increasingly used vehicles.

July 6th 2020 multiple countries passenger vehicles multiple companies monthly update. The global premium car segment will fare better than the broader market thanks to evs and resurging demand in china. For honda alone wuhan accounts for about 50 of total production in china.

China is the world s biggest car market and wuhan the city at the center of the outbreak is known as a motor city for being home to auto plants including general motors honda nissan peugeot group and renault. The automotive industry in china has been the largest in the world measured by automobile unit production since 2008. A grand total of 21 07 million passenger cars were delivered to chinese dealers.

Other chinese car manufacturers are. Indeed 2 1 million units were sold in august leading year to date sales to 14 million 12 9.