Automotive field

Release time:

2024-12-05 10:04

China is the world's largest automobile producer and consumer. According to data from the China Association of Automobile Manufacturers, in 2022, automobile production and sales reached 27.021 million and 26.864 million units, respectively, with year-on-year growth of 3.4% and 2.19%, continuing the growth trend of 2021. Among them, passenger vehicles achieved rapid growth driven by policies to stabilize growth and promote consumption, contributing significantly to the slight overall growth for the year; commercial vehicles remained at a low level due to overlapping factors.

In addition, driven by the 'dual carbon' goals,the market potential for new energy vehicles is gradually being released.According to data from the China Association of Automobile Manufacturers, China's new energy vehicles have developed rapidly over the past two years, ranking first in the world for eight consecutive years. Under the dual influence of policies and the market, in 2022, new energy vehicles continued to experience explosive growth, with production and sales reaching 7.058 million and 6.887 million units, respectively, representing year-on-year growth of 96.9% and 93.4%, with a market share of 25.6%.

Sales of new energy vehicles in China from 2011 to 2022 (unit: ten thousand units)

According to statistics from the Ministry of Public Security, by 2022, the total number of motor vehicles in the country reached 417 million, of which 319 million were cars. China's car ownership per thousand people reached about 220, still lower than that of developed countries. With the maturation of new energy vehicle development in China and the introduction of policies aimed at guiding the transformation and upgrading of the automobile industry and stimulating residents' car consumption, the structure of automobile consumption in China is expected to continue to improve, indicating that there is still a certain consumption potential for automobiles in the future.

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