China PV retail sales likely to grow 8% in 2021, CPCA
Shanghai (Gasgoo)-China auto retail sales in 2021 are forecasted to climb 4% year on year, while the annual passenger vehicle deliveries are likely to grow 8%, Cui Dongshu, secretary general of the China Passenger Car Association (CPCA), said on Jan. 21 at an industrial seminar.
Mr. Cui said consumption demands were being steadily unleashed last year thanks to the efficient control of the coronavirus pandemic and governmental stimulus. The divergence among automobile groups, automakers and brands has become increasingly large. The continued strengthening of luxury auto brands and export business, the resilient sales of Japanese car brands, the growth in SUV market share and a solid rebound in new energy vehicle (NEV) sales are all major points of interest for the 2020's China auto market.
According to the CPCA, the retail sales of locally-produced luxury PVs jumped 14.7% over a year ago to 2,529,106 units. In terms of brand origins, Japanese car brands sold 4,643,331 new vehicles (+2.4% YoY) through 2020 with their market share growing to 24.1% from 21.9% in 2019. With 1,111,350 units delivered last year, the NEV business in China scored a 10% growth, versus the -7.6% decrease in the annual sales of ICE (internal combustion engine) vehicles.
The commercial vehicle (CV) demands may stand at 4.4 million units in 2021, said Mo Yao, an expert at the CPCA.
Last year, the demands of medium-/heavy-duty trucks, especially tractors, represented a high growth rate, driven by epidemic control efforts, infrastructure construction, logistics business, governmental incentives and other economic stimulus policies, Mr. Mo added.
For the year of 2020, around 19.605 million locally-produced PVs (referring to cars, MPVs, SUVs and minibuses) were handed over to consumers in China, representing a year-on-year decrease of 6.8%, according to the CPCA.