April 18, 2021

Experts expect robust growth in Chinese automotive market

categories : auto

Shanghai, Apr. 17 (BNA): China's automotive market will recover from the coronavirus crisis with strong growth of more than 6 per cent this year, according to estimates from experts.

'It should be able to equal economic growth or even exceed a little bit,' Cui Dongshu, the head of China's Passenger Car Association (CPCA), told dpa on Saturday ahead of the international car show Auto Shanghai.

China's government has forecast growth of more than 6 per cent for the country's economy this year, dpa reported.

In 2020, China's automotive market fell by 6 per cent due to the impact of the pandemic, which hit the country particularly hard at the beginning of the year.

Since the summer, China has had the virus largely under control, with only small outbreaks reported since.

Sales of electric cars are likely to see particularly fast development in China's car market, which is the largest in the world.

'Seventy per cent [growth] should be no problem,' Cui said. 'I think the new energy vehicle will expand faster.'

Consumers now have more trust in the quality and reliability of electric cars, he added.

Jia Xinguang, director of the China Association of Automobile Manufacturers, sees the massive restrictions on petrol in big cities as a driving force for electric car sales.

China's big cities are limiting the granting of licence plates and giving preference to electric cars.

'Now the main factor is the restriction of fuel cars. Subsidies and environmental awareness are not the main thing,' Jia said.

bna

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