BEIJING/SHANGHAI (Reuters) – China’s vehicle sales are likely to hit 25 million units this year, an industry body said, as the world’s biggest vehicle market continued to lead the global auto industry recovery from lows hit during the COVID-19 pandemic.
Fu Bingfeng, executive vice chairman of the China Association of Automobile Manufacturers (CAAM), told an annual conference of the association in Beijing on Friday that CAAM expects Chinese sales this year of over 20 million passenger vehicles and 5 million commercial vehicles, which include trucks and buses.
CAAM also expects Chinese sales to modestly grow next year and hit 30 million units in 2025, Fu said. China sold 25.77 million vehicles last year.
(Reporting by Yilei Sun and Brenda Goh; Editing by Sam Holmes and Christopher Cushing)
