China seen selling 27.5 million vehicles

Huge market: Vehicles travel at night in Beijing. CAAC predicts that sales of vehicles in China would reach 26.1 million units in 2021, up 3.1% y-o-y. — Bloomberg

BEIJING: Vehicle sales in China are expected to grow 5.4% year-on-year (y-o-y) to reach 27.5 million units in 2022, according to the China Association of Automobile Manufacturers (CAAC).

Passenger car sales are forecast to reach 23 million units next year, up 8% y-o-y, while sales of commercial vehicles are expected to see a 6% drop to 4.5 million units, the data showed.

The CAAC expects sales of new-energy vehicles in China to surge by 47% from 2021 to reach five million units next year.

The association also predicted that sales of vehicles in China would reach 26.1 million units in 2021, up 3.1% y-o-y. — Xinhua