18 January 2023
According to the Chinese Association of Automobile Manufacturers (CAAM), sales of electric vehicles (EVs) rose to 5.4 million units in 2022, up by almost 82%. China’s overall sales increased to 26.9 million units, including trucks and buses, indicating a growth rate of 2.1% compared to 2021, writes Leatherbiz.
CAAM reported that sales of SUVs, family cars and minivans, (EVs and petrol-powered), reached 23.6 million units in 2022. However, sales tailed off in December as a consequence of fresh covid restrictions.
The result was a disappointing month at the end of the year with total sales falling by 8.4% to 2.6 million units compared to the same month in 2021.
There are concerns that the slowdown in December could foreshadow lower sales in 2023, but CAAM is still forecasting sales growth of around 3% for the coming year.