Chinese automotive output and sales dipped by just 2% in 2020 from a year earlier after a sustained recovery in the second half of the year. Continuous year-on-year growth in December in both sales and output continued to provide support to upstream raw material prices.
China produced 25.23 million vehicles in 2020 while sales amounted to 25.31 million units, according to data released by the China Association of Automobile Manufacturers (CAAM) on Wednesday January 13.Output of new energy vehicles (NEVs) increased by 7.5% to 1.37 million units in 2020, from 1.24 million units in 2019. Total sales of these vehicles increased by 10.9% year on year to 1.37 million units last year, up from 1.21 million units in 2019, CAAM data shows.
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