Chinese car market shrinks for first time in a long time due to new outbreak of coronavirus

Chery Tiggo 7 Pro has dramatically lost ground and Haval Jolion is on the move: Chinese car sales in March and the first quarter of 2022

According to the China Automobile Manufacturers Association, Chinese passenger car sales totaled 1 million 864,000 units in March this year. For the first time in a long time there was a decline compared to last year’s figure (-0.6%).

Experts say the negative result is due to a new outbreak of the coronavirus pandemic in the country and the restrictions imposed. According to the results of the first three months of 2022, the Chinese car market grew by 9% to 5 million 545 thousand cars.

According to the forecast of the China Association of Automobile Manufacturers, the Chinese car market may increase by 8% to 23 million cars in 2022. At the same time, sales of cars powered by new energy sources will grow by almost 1.5 times and reach 5 million units.

It is worth adding that China has various laws in place to stimulate demand for cars, both by lifting the restrictions previously in place for the market and by subsidizing the purchase of cars. At the same time, the continuing shortage of microchips could have a negative impact on the operations of a number of Chinese automakers.

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