Shanghai (Gasgoo)- China Association of Automotive Manufacturers (CAAM) predicted that 2018 automobile sales will have a year-on-year growth of 3% with an annual sales volume of 29.87 million units.
Statistics from CAAM reveals that the overall sales of passenger vehicles (PV) in 2018 will reach 25.59 million units, only up 3% from a year earlier. Down to segments, the sedan sales will slightly decrease by 1% year on year with a total amount of 11.77 million units. The MPV sales may slid back by 11%, to 1.79 million units. Moreover, the sales of SUV will rise by 11% to 11.52 million units compared with the sales of 2017.
The report also shows that the sales of commercial vehicles (CV) possibly come up to 4.28 million units in 2018, growing by 2%. Among CVs, the sales of coaches will drop by 8% to 470 thousand units, while the van sales will have a growth of 3% on year-on-year basis, with the sales volume increasing to 3.81 million units.
Besides, it also estimates that the export business will remain a slower growth in 2018. The export sales might be up to 1.06 million units, rising 15% year on year. However, the growth rate of import in 2018 may decrease to 4%.
CAAM states that by the end of 2017, the overall sales of this year could possibly reach around 29 million units, increasing by 3.5% from a year earlier.
Xu Haidong, the assistant secretary general of CAAM said “Over the past decade, China’s automobile market has witnessed a stable growth on sales, during which the year of 2010, 2013 and 2016 all maintained a two-digit growth rate. After that, the growth rate has been in a stable condition.”
The PV sales of 2016 have 87% market shares, rising by 17% compared with its market shares of 2008. It is obvious that PV overnumbers CVs in sales. While, since the beginning of 2017, the sales of CV have registered a positive turn. Therefore, the proportion of PV to CV in sales this year may keep almost the same as 2016.
Gasgoo not only offers timely news and profound insight about China auto industry, but also help with business connection and expansion for suppliers and purchasers via multiple channels and methods.
All Rights Reserved. Do not reproduce, copy and use the editorial content without permission. Contact us: khoahocxaydung.info.