China has managed to stay for 12 years in a row as the world’s leading car producer.
Also in that same period it has been the leader in terms of national car sales.
But in the last three years, these two indicators have registered negative behaviors.
According to statistics released by the China Automobile Manufacturers Association, China’s automobile production volume and sales volume in 2020 amounted to 25 million 225,000 units and 25 million 311,000 units, representing year-on-year decreases of 2.0 and 1.9 %, respectively.
The compound growth rate of China’s auto production volume was 3.28% between 2010 and 2020.
For the automotive industry, in the short term, the automobile market is recovering, but on an unstable basis, highlighted the Chinese company Fuyao.
This company is primarily engaged in providing total automotive accessories and safety glass solutions for various transportation vehicles, including the design, manufacture and sale of automotive grade float glass, automotive glass, locomotive glass, luggage rack, vehicle window trim. and the provision of relevant services.
On the one hand, says Fuyao, several countries are implementing measures to prevent the pandemic; However, the mutation of the virus has caused repeated outbreaks of the pandemic, leading to growing instabilities in the global automotive supply chain and lurking uncertainties in the auto market.
On the other hand, with the prevention and control situation of the national pandemic has gradually improved, while national and local governments have introduced and implemented various policies promoting automobile consumption, such as relaxing restrictions on purchase and extending subsidies and incentives. tax for the purchase of new energy vehicles.