China Is On Track For Its Worst Car Sales Since 2021, But Don’t Blame EVs
Through June, China sold 8.7 million new cars, down 20.2% year over year. The CPCA expects passenger car sales to reach 20.4 million this year. One analyst sees only seven or eight local EV makers surviving by 2030. After a sustained period of extraordinary growth, the Chinese car market is suffering from some serious growing pains. New car sales have collapsed this year, so much so that it may end up being the worst year for the Chinese auto industry since 2021. Figures from the China Passenger Car Association show passenger vehicle deliveries down 20.2 percent through the first half of the year, with 8.7 million units. The industry body expects a total of 20.4 million new cars to move this year, which would represent a fall of 14 percent from 2025, when dealers sold 23.7 million units. Read: China’s Electrified Car Sales Sank 13%, And The World Is About To Feel It That outlook may be optimistic. The head of Hong Kong/China Indu...