People visit the 18th Guangzhou International Automobile Exhibition at the China Import and Export Fair Complex in Guangzhou, south China's Guangdong Province, Nov. 29, 2020. (Xinhua/Lu Hanxin)
BEIJING, Dec. 17 (Xinhua) -- Total sales volume of vehicles in China is expected to be 27.5 million units in 2022, up 5.4 percent year on year, according to the China Association of Automobile Manufacturers (CAAM) on Friday.
In breakdown, sales of the passenger vehicles are projected to stand at 23 million units, a year on year increase of 8 percent. The commercial vehicles will likely see sales of 4.5 million units, down 6 percent year on year.
It is worth noting that the new energy vehicles are expected to have sales of 5 million units in 2022, up 47 percent year on year.
The association also forecasted the auto performance in 2021, and expected the country's auto sales in 2021 to be 26.1 million units, up 3.1 percent year on year.
Thanks to the economic recovery and favorable policies at the state level during the 14th Five-Year Plan period from 2021 to 2025, the domestic automobile market will grow steadily, according to industry insiders at the 2022 China Auto Market Development Forecast Summit recently held in southwest China's Sichuan Province. (Edited by Zhang Jian, Hu Pingchao with Xinhua Silk Road, firstname.lastname@example.org)