By the end of September this year, China’s car ownership reached 297 million units and is expected to exceed 300 million by the end of the year, This was said by Shi Jianhua, deputy secretary general of the China Association of Automobile Manufacturers (CAAM).
Shi made the remarks at the 2021 World Manufacturing Congress New Energy Vehicle Industry Development Forum. Among other things he was saying that China’s auto market is the largest in the world, with auto production, sales and ownership having ranked first in the world for many years.
During the 13th Five-Year Plan (2016-2020), China’s auto industry has seen bright results, he said, adding that China’s auto ownership will maintain an average annual growth rate of 4 percent during the 14th Five-Year Plan (2021-2025).
China’s NEV industry has entered a new phase of development, and market forces are playing a greater role, the report said.
China’s cumulative production and sales of NEVs from January to October both increased about 1.8 times year-on-year. To date, the share of NEVs in vehicle sales has reached 11 percent, the report said, citing CAAM data.