Chinese Auto Sales on Track to Recover in 2021

Auto sales in China fell for the third year in a row in 2020 but increased year on year for the ninth consecutive month in December as Beijing continues to lead the global auto sector’s recovery from the COVID-19 pandemic.

Chinese auto sales fell 1.9% to 25.3 million cars last year compared to 2019.

Sales of the largest global auto market increased 6.4% in December, year on year, to 2.83 million cars. But the pace of growth has slowed sharply, compared to a 12.6% year-on-year increase in November.

The Chinese auto sector was severely affected by the Corona pandemic at the beginning of last year, but it began to recover in the second quarter of the year with the rest of the economy sectors in light of the success of China in controlling to a large extent the pandemic.

Automakers, including Toyota and Great Wall Motor, reported growth in sales in China last year.