Monthly automobile sales in China 2019-2020
The graph shows passenger and utility vehicle sales in China from August 2019 to November 2020. In November 2020, approximately 472,000 commercial vehicles had been sold in China.
Automobile demand in China
China is home to the world’s largest market for automobile sales. Despite the recent decline in passenger car sales in China, the nation still accounts for around one quarter of global vehicle sales, a demand that is influenced heavily by the affluence of a society. As the world’s second largest economy, China has seen remarkable GDP growth over the past years. This massive economic development has lead to the formation of a new middle class in China, a demographic group that has spurred vehicle demand. On a different account, demand for automobiles is partly driven by concerns that more cities might impose new-vehicle quotas, following the example of Beijing and Shanghai. Therefore, many onsumers have brought forward their purchase intents.
Chinese car manufacturers
China’s automobile market is dominated by international car manufacturers. In 2018, the best-selling vehicles in China were produced by General Motors and Volkswagen. Many car models manufactured under joint ventures also target middle and lower-middle class buyers. This market dynamic puts extra pressure on local carmakers. As of 2019, Chinese car manufacturers accounted for less than 40 percent of the passenger vehicle sales in China.
Automobile demand in China
China is home to the world’s largest market for automobile sales. Despite the recent decline in passenger car sales in China, the nation still accounts for around one quarter of global vehicle sales, a demand that is influenced heavily by the affluence of a society. As the world’s second largest economy, China has seen remarkable GDP growth over the past years. This massive economic development has lead to the formation of a new middle class in China, a demographic group that has spurred vehicle demand. On a different account, demand for automobiles is partly driven by concerns that more cities might impose new-vehicle quotas, following the example of Beijing and Shanghai. Therefore, many onsumers have brought forward their purchase intents.
Chinese car manufacturers
China’s automobile market is dominated by international car manufacturers. In 2018, the best-selling vehicles in China were produced by General Motors and Volkswagen. Many car models manufactured under joint ventures also target middle and lower-middle class buyers. This market dynamic puts extra pressure on local carmakers. As of 2019, Chinese car manufacturers accounted for less than 40 percent of the passenger vehicle sales in China.
