SHANGHAI January 19th, 2017 ZXZC–Following the growing trend of auto market, production and sales volume of December 2016 both exceeded 3 million units, reaching a record high. While the production and sales volume of the total year both broke 28 million units, with a faster growing rate. Predicted by CAAM, sales growing rate of Chinese auto market will be 5% this year and will reach 29.4 million units.

A Surprising Growing Rate of 13%

It is really a surprise that the production and sales volume of vehicles in 2016 reached 14.46% and 13.65% respectively. Among passenger cars, sales of SUVs and MPVs grew rapidly, which are 9047 thousand units and 2496.5 thousand units respectively, a year-on-year increase of 44.59% and 18.38%. Sales growing rate of sedans was only 3.44%, although having been sold 12149.9 thousand units.

China’s Brands Made Progress

Bonus of market development helped most of car brands make gains, especially Chinese brands, of which passenger cars have been in a growing trend for two successive years.

Sales of China’s passenger cars broke ten-million units for the first time in 2016, which has reached 10528.6 thousand units, increased 20.5% year over year and accounted for 43.19% of the total sales of passenger cars. Passenger car sales of Germany, Japan, the USA, Korean and France were 4510.3, 3791.5, 2964.6, 1792 and 644 thousand units respectively. Despite of the reduction of France, passenger car sales of other countries all increased in different degrees.

The top 10 automakers with highest auto sales last year are SAIC, Dongfeng, FAW, Changan, BAIC, GAC, the Great Wall, Greely, Brilliance and Chery. Sales of Brilliance had a slight decline comparing with the previous year, while other companies all gained a growth, especially Greely and Chery. The top 10 automakers totally sold 24759.9 thousand units cars last year, which accounted for 88.34% of the total car sales.

Expectations of 2017

It is expected that the sales growing rate of Chinese auto market will be about 5% in 2017, with 29.4 million vehicles sold. Sales passenger cars will increase 5% to 25.7 million units and that of commercial cars will grow 2% to 3.7 million unnits.