The Chinese Passenger Vehicle market is on track to hit sales of ~22 million units this year – equal to the 2019 level. But the segment mix will differ considerably to that of 2019, and “the rate of recovery from the 2020 decline will be far from uniform across the various sales groups, says LMC. In terms of market status, Premium segment share is expected to improve from 14% in 2019 to 18% this year, and the Low-Cost segment is forecast to end 2021 with 2% market share, up from 0.5% in 2019. Click to Enlarge.
Based on LMC’s latest forecasts, the Chinese Passenger Vehicle market is on track to hit sales of ~22 million units this year – equal to the 2019 level. But the segment mix will differ considerably to that of 2019, and “the rate of recovery from the 2020 decline will be far from uniform across the various sales groups, says LMC. In terms of market status, Premium segment share is expected to improve from 14% in 2019 to 18% this year, and the Low-Cost segment is forecast to end 2021 with 2% market share, up from 0.5% in 2019.
