China's new vehicle sales: OEMs' plans rise to about 20 million in 2011 up about 2 million from 2010

Major passenger car manufacturers aim at sales of more than 14.8 million

2011/03/04

Summary

 In 2010, total auto sales in China increased by 32% year-on-year (including exports and excluding imports sold) to 18.06 million (up by 4.42 million), becoming the largest in the world for two consecutive years. Among them, passenger car sales grew by 33% to 13.76 million (up 3.43 million) and commercial vehicle sales increased by 30% to 4.3 million (up 0.99 million).

 In January 2011, CAAM (China Association of Automobile Manufacturers) announced a forecast for 2011 saying that auto sales would increase by 10-15% year-on-year to around 20 million.

 Also in January 2011, the Market Research Department of the Economic Consulting Center, which is under the umbrella of the Chinese government-affiliated information think tank, the "State Information Center (SIC)," announced a forecast for 2011 saying that passenger cars would increase by about 14% (calculated to be 15.68 million) and commercial vehicles by about 9% (4.69 million), namely around 20.37 million in total.

 The sales plan for 2011 announced by February 2011 by OEM groups in China have already amounted to 19.5 million (including 14.8 million passenger cars).

Change of China's auto sales volume including exports by category of vehicle
(Note) 1. Category of vehicle is based on the new classification introduced in 2005. Commercial vehicle and vehicle total include chassis and semi-trailers. This also applies to the following tables.
2. The 2011 auto sales forecast of 20.37 million (15.68 million of passenger cars and 4.69 million of commercial vehicles) are calculated from the growth rate forecast for passenger cars and commercial vehicles (up about 14% for passenger cars and up about 9% for commercial vehicles from 2010), which Liu Ming, the director of Market Research Department of Economic Consulting Center, which is under the umbrella of the State Information Center, announced in January 2011.