China introduces new measures to boost car sales25. March 2021
A meeting of government officials chaired by Premier Li Keqiang in November 2020 laid out numerous new measures to boost car sales. Specifically, the council agreed to stabilize and increase the number of car sales, allow local authorities more leeway in restrictions on new car purchases, and increase the current quota for new car registrations. In addition, sales promotion measures for new vehicle purchases in rural areas and a scrappage premium are planned. Where circumstances permit, buyers are to be encouraged to opt for commercial vehicles with a gross weight of less than 3.5 tons and passenger cars with an engine displacement of less than 1.6 liters.
In addition, the government encourages the purchase of new vehicles if the previous one only meets Chinese emission standard 3 or below. In this way, the government wants to phase out older and polluting vehicles more quickly. To improve the environmental record, more parking lots with charging stations for electric vehicles and plug-in hybrid vehicles are to be built. As early as the beginning of 2020, the Chinese central government as well as local authorities decided on numerous support measures to stimulate the automotive market.
According to the China Automobile Manufacturers Association (CAAM), approximately 2.55 million vehicles were produced in China in October 2020, 11 percent more than the previous year. Sales in the identical period totaled 2.57 million, up 12.5 percent. As of October 2020, the amount of cars produced and sold has been growing steadily for 7 months. According to estimates by Jiang Xueping, an analyst at Orient Securities, passenger car sales in China will reach double-digit growth in 2021. Jiang observes that demand has stabilized recently and companies in the vehicle manufacturing, parts and components sectors can benefit. Therefore, China can be expected to continue to provide solid conditions for the automotive industry in the future. If you need CCC certification in the automotive sector, China Certification is an excellent partner for you. We have been advising leading automotive suppliers and vehicle manufacturers on their CCC certifications for years.
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