Retail sales of passenger cars and SUVs in China increased by 7.8% compared to 2019. In November alone, the country’s residents bought up 2.11 million cars.
Wholesale sales of electric cars doubled to 169,000 units. Tesla – in first place in the segment – has sold 21,604 electric cars. This was a record figure for the brand.
It is noted that the share of Tesla has been steadily increasing in China since the country began selling locally produced sedans about a year ago. However, competition in the premium segment of electric cars in China is only increasing. The main competitors, Nio and Xpeng Inc., are attracting incresingly more car owners.
A survey conducted by the agency shows that more than half of Chinese consumers who want to buy a new car would rather own an electric car. Experts base their forecast on this: this segment of the market will only grow in 2021.
source: bloomberg.com
