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

by Mike Robinson

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© Reuters. A port in Dalian (Liaoning Province, China) April 10, 2020 is where new cars were seen. China Daily via REUTERS

BEIJING, (Reuters) – China’s biggest car market will see automobile sales rise by 5.4%, to 27.5 millions in 2022, according to the top body in the auto industry.

According to the China Association of Automobile Manufacturers, 47% of the global sales of new vehicles will grow to 5 million by 2020, according to a WeChat statement.

CAAM anticipates that sales will rise by 3.1% to 26.1 Million in 2021. New energy vehicle sales are expected to increase 1.5-fold to 3.4million.

China’s car sales fell 9.1% in November due to an extended global shortage of semiconductors. It was the seventh consecutive month of declines.

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