China's new energy vehicle sales are expected to reach 1.8 million units in 2021, achieving year-on-year growth of about 40 percent, the China Association of Automobile Manufacturers (CAAM) said recently.
At the 2021 China Auto Market Development Forecast Summit held on December 11, Fu Bingfeng, executive vice chairman of the CAAM, said that China's auto market sales are expected to reach 25 million units this year, with the decline expected to narrow to 2 percent, better than expected.
The CAAM expects China's total auto sales to reach 26.3 million units in 2021, up about 4% year-on-year, including 21.7 million passenger cars, up about 7.5% year-on-year.
The CAAM projects that total vehicle sales in China are expected to reach 25.3 million units in 2020, down about 2 percent year-over-year.
Of these, passenger car sales are expected to reach 20.2 million units, down about 6 percent year-on-year, while new energy vehicle sales will reach 1.3 million units, up about 8 percent year-on-year.
It is worth mentioning that China's new energy vehicle market will begin to have the "ability to walk on its own".
At the New Energy Smart Car Eco Summit held on December 13, Fu expects that the subsidy policy for new energy vehicles will be completely withdrawn in 2-3 years.
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