BUSINESS China's passenger car sales up 4.4% in 2021


China's passenger car sales up 4.4% in 2021

09:51, January 12, 2022

Photo taken on Oct. 15, 2021 shows a new energy vehicle (NEV) produced by China's leading NEV manufacturer BYD during the 130th session of the China Import and Export Fair in Guangzhou, China. (Xinhua/Deng Hua)

Sales of passenger cars in China rose 4.4 percent year on year to 20.15 million units in 2021 as strong demand for new energy vehicles (NEVs) continued to underpin market growth, industry data showed Tuesday.

In December alone, retail sales of passenger vehicles stood at 2.1 million, down 7.9 percent year on year, according to the China Passenger Car Association (CPCA).

A breakdown of the data showed an accelerating transition in the market as NEV sales continued to boom. Last year, a total of 2.99 million new energy passenger cars were sold in China, surging 169.1 percent year on year.

Although the decline of subsidies for NEV purchases may affect consumer sentiment, sales of the green cars will see limited impact as a pre-delivery order backlog remains, the CPCA predicted.

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