Auto sales in China increased by 6.9% yoy to 2.51 million units in October of 2022, the least in five months, after a 25.7% jump a month earlier, data from the China Association of Automobile Manufacturers (CAAM) showed. The sharp slowdown underlined deteriorating demand due to the ongoing COVID zero policy and waning effect of incentives as well as a low base effect last year. For the first ten months of the year, auto sales grew by only 4.6% from the same period in 2021. In July, CAAM slashed its auto growth projection for 2022 to 3% from an earlier estimation of 5.4%, reflecting disruptions in production due to a prolonged global shortage of semiconductors earlier in the year. source: China Association of Automobile Manufacturers
Total Vehicle Sales in China averaged 1215674.38 Units from 1997 until 2022, reaching an all time high of 3060271.00 Units in December of 2017 and a record low of 88416.00 Units in January of 1998. This page provides - China Total Vehicle Sales- actual values, historical data, forecast, chart, statistics, economic calendar and news. China Total Vehicle Sales - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.
Total Vehicle Sales in China is expected to be 2750000.00 Units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Total Vehicle Sales is projected to trend around 2610000.00 Units in 2023 and 2780000.00 Units in 2024, according to our econometric models.