Passenger car sales in China 2008-2021, by model
Passenger car sales in China
China has been the largest market for passenger cars since 2008. In 2020, about 20 million passenger cars had been sold in China, more than in the United States, Germany and Japan combined. The People’s Republic is also the largest producers of passenger cars in the world. Over 21.4 million passenger cars had been produced in China in 2020. When compared to car markets in developed countries around the world, China’s domestic automobile market still possesses some potentials for growth. As of 2020, around 276 million vehicles had been registered in the United States, whereas China counted 24 million registered vehicles with a much higher population size.
Foreign car manufacturers in China
Both General Motors and Volkswagen are among the leading carmakers in China. More than half of all passenger cars sold in China were of foreign origin in 2020. China’s national carmakers enjoy a price advantage rather at the lower end of the market. Since 2020, the most popular passenger car model in China has been the SUVs. In order to win larger margins in the Chinese market, automakers such as Volkswagen have launched models solely designed for Chinese customers.