The market share of Chinese brand passenger cars has grown steadily

Fu Bingfeng, executive vice president and secretary general of the China Association of Automobile Manufacturers, said a few days ago that driven by the "dual drive" of new energy vehicle production and sales and automobile exports, Chinese brand passenger cars sold more than 8.4 million units in the first 11 months of this year, accounting for more than 44% of the total domestic passenger car sales, maintaining growth for 8 consecutive months year-on-year.

Fu Bingfeng, Executive Vice President and Secretary General of China Association of Automobile Manufacturers, attended the "2022 China AutoMotive Market Development Forecast Summit" (Courtesy of China Association of Automobile Manufacturers)

Fu Bingfeng made the above statement at the "2022 China Auto Market Development Forecast Summit" held recently. He said that the automobile industry, as a pillar industry of the national economy, although it is affected by unfavorable factors such as chip shortage and continuous high operation of raw material prices, under the promotion of the technological change of "electrification, networking and intelligence", the vitality of enterprises has still been significantly enhanced, market consumer demand continues to show a trend of quality upgrading, and the overall production and sales of automobiles still maintain steady growth.

According to Fu Bingfeng, the cumulative output of new energy vehicles in China exceeded 3 million in the first 11 months of this year, with sales of nearly 3 million vehicles, and it is expected that annual sales are expected to reach 3.4 million units, an increase of about 1.6 times year-on-year. At the same time, thanks to the gradual recovery of the international market, the stability of domestic supply capacity, and the steady growth of new energy vehicle exports, China's automobile exports have continued the growth trend since the fourth quarter of last year, and it is expected that the annual exports are expected to exceed 2 million.

"The current international epidemic situation is constantly changing, and the uncertainty of the epidemic is still the biggest risk. However, in the medium and long term, the potential of the future automobile market is still huge. Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers, predicted that China's total automobile sales are expected to reach 26.1 million in 2021, an increase of 3.1% year-on-year. (Reporter high-pitched)