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China auto sales to hit 27.5 million in 2022, up 5.4% - industry body

Economic IndicatorsDec 16, 2021 11:05PM ET
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© Reuters. Newly manufactured cars are seen at a port in Dalian, Liaoning province, China April 10, 2020. China Daily via REUTERS

BEIJING (Reuters) - Automobile sales in China, the world's largest car market, will likely rise 5.4% to hit 27.5 million in 2022, the country's top auto industry body said.

Of the total, sales of new energy vehicles is expected to grow 47% to 5 million, the China Association of Automobile Manufacturers (CAAM) said in a statement published on its official WeChat account.

For 2021, CAAM expects sales to rise 3.1% year-on-year to 26.1 million, with new energy vehicles sales rising 1.5 times to 3.4 million.

Disrupted by a prolonged global shortage of semiconductors, China's auto sales dropped 9.1% in November from a year earlier, marking their seventh consecutive monthly fall, CAAM data showed earlier this month.

China auto sales to hit 27.5 million in 2022, up 5.4% - industry body
 

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