Chinese Car Sales in 2025 is Expected to be 35M Units

It is expected that, car sales of China in 2025 will reach 35 million units, among which new energy vehicles account for at least 20%. According to the market route map of MIIT (Ministry of Industry and Information Technology of the People’s Republic of China, urbanization of China and overseas expansion of domestic automakers will contribute to promoting this year’s sales increase about 25% year over year based on that of last year.

China now has the biggest auto market around the world. Last year, it has sold 28 million units cars and sales of electric vehicles and hybrid electric vehicles had a sustainable growth. Sale of new energy cars is expected to be 2 million units by 2020, which will account for over 20% of the total car production and sales volume by 2025. And that means annual sales of new energy vehicles in the future ten years will surpass 7 million units. Sale of green energy vehicles rose markedly with the push of government, however, it only accounted for less than 2% of the total car sales of China last year.

The government agencies said that, they will push to create local champion in car industry. Chinese automakers, including SAIC and Geely Automobile, have all started to challenge their competitors famous all over the world, new modes and marketing strategies.

According to MIIT, stipulations for joint venture enterprises from foreign countries will be gradually loose, but there is no detailed description for time frame or the amount of share holdings of foreign automakers. MIIT also revealed that, Chinese automakers will increase their exports to developed countries and improve battery technologies for electric cars in future ten years.