Market balance China 9 months 2022
- The Chinese automotive market (PC+LUV) is one of the few major markets to record significantly better sales figures in 2022 than in 2020 and 2021, especially from the third quarter onwards.
- The third quarter of 2022 shows a sales volume of 6.6 million units, compared to 4.9 million units in the third quarter of 2021 and 5.5 million units in the third quarter of 2020, representing an increase of 35% in 2022 compared to 2021 and 20% compared to 2020.
- The year 2020, as in other countries, had been marked by the Covid 19 crisis, which led to the closure of car factories and dealers, causing the market to decline by 6% compared to 2019.
- The first half of 2020 had shown an extremely low number for China, with 7.8 million sales, which was partially made up by a decent second half (12.4 million units), with the full-year figure reaching 20.2 million units.
- The year 2021 was a catch-up year, pretty much matching the pace of the second half of 2020 (21.5 million units, including 10.0 million in the first half and 11.5 million in the second half).
- In the first half of 2022, this pace continued, interrupted by a temporary return of the Covid 19 crisis in April, resulting in a sales volume of 10.3 million in that half, roughly the same as in the first half of 2021.
- By the end of September 2022, the Chinese market grew 14.5% year-on-year, with 74% of vehicles being internal combustion engine or HEVs, 20% BEVs and 6% PHEVs.
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