2021 Chinese market: New vehicle sales up 3.8% to 26,275,000 units, NEV sales 3,521,000 units
Sales forecast for 2022 is 27.5 million units, with NEVs at 5 million units
- Sales volume increased by 3.8% y/y to 26.275 million units in 2021 and is expected to increase to 27.5 million units in 2022
- Sales volume by group in 2021: Top 3 sales volume down, 4th place Changan strong
- Passenger car market in 2021: Chinese automakers with 45% market share, Japanese overtake German OEMs
- 2021 sales by vehicle type: SUVs exceed 10 million units for the first time in four years
- NEV sales of 3.521 million units in 2021, 5 million units expected in 2022, CATL's share to exceed 52%
- Exports/Imports: Exports exceed 2 million units, NEVs 310,000 units
- 2021 vehicle sales (factory shipments) by major group in China
For the full year of 2021, new vehicle sales in the Chinese market increased by 3.8% year-over-year (y/y) to 26,275,000 units (on a factory-shipped basis, including exports), marking the first full-year increase in four years, despite a monthly y/y decline since May, 2021. Sales of passenger cars increased in all vehicle type categories, resulting in a 6.5% y/y increase to 21,482,000 units. Of these, SUVs were strong, increasing 6.5% to 10,079,000 units, exceeding 10 million units for the first time in four years. On the other hand, commercial vehicles, excluding buses, declined by 6.6% y/y to 4,793,000 units. According to an announcement by the China Association of Automobile Manufacturers (CAAM) in January 2022, the sales volume in 2022 is expected to be 27.5 million units.
By automotive group, the top three groups are the same as in 2020: SAIC, FAW, and Dongfeng. In fourth place was the Changan Automobile Group, whose own-brand SUV models and Changan Ford models performed well.
In the passenger car market, Chinese manufacturers performed well with a 23.9% y/y increase to 9,713,000 units, accounting for 45.2% of the market. Although all Japanese manufacturers except the Toyota Group performed poorly, they surpassed German manufacturers in terms of market share. U.S. manufacturers increased their sales by 13.0% y/y to 2.195 million units, due to the strong performance of Tesla and the Ford Group.
The number of NEVs (New Energy Vehicles) increased significantly to 3,521,000 units, up 157.5% from the previous year. According to the Ministry of Industry and Information Technology, NEV sales are expected to reach 5 million units in 2022. The best-selling NEV passenger car in China is SAIC-GM Wuling's Hongguang MINIEV, with Tesla vehicles in second and third place. Tesla (Shanghai) had the second largest number of NEV passenger cars by manufacturer after BYD.
In 2021, the number of vehicles exported increased by 101.1% y/y to 2,015,000 units, exceeding 2 million units for the first time. NEVs account for 301,000 of these units. The Lexus brand continued to top the list of imported passenger cars.
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