The China Passenger Car Association (CPCA) has published a new forecast for sales by the end of the current decade. According to the new version, annual sales of new cars, including exports, will exceed 40,000,000 units. For understanding: the target for China for 2025 is 32.3 million units, and at the end of 2024, 31.4 million units were sold, including abroad.
The General Director of the CPCA noted less developed regions of China, where the number of cars per 1000 people is still very low, as one of the areas of potential sales growth. For comparison: on average in China, this figure is currently 25%, while, for example, in Russia as of January 1, 2025, it is 31%.
Another growth factor is the popularization of electric vehicles. Their service life is only about 10 years, while that of internal combustion engine cars is 18 years. Accordingly, the turnover of cars will be almost 2 times faster.
The CPCA also provided data on sales of locally produced passenger cars for August: the figure increased by approximately 5%, to 1.995 million units. In the previous month, this figure was 1.906 million units.