Cui Dongshu, secretary general of the China Passenger Car Association (CPCA), stated at the World New Energy Vehicle Congress (WNEVC), which was held during September 27-29 at Haikou, Hainan Province, that China’s vehicle retail sales in its local market will likely reach 22.3 million units in 2024, up 3.0 percent year on year, including 10.4 million units of new energy vehicle, up 34.0 percent year on year.
CPCA had previously forecast that China’s vehicle retail sales would likely reach 22.2 million units in 2024. Cui Dongshu explained that there may be a further increase of 100,000 units in vehicle retail sales this year due to stimulus policies.