Growth seen in China's vehicle market; strong EV sales expected: CAAM

摘要

China's vehicle sales are forecast to exceed 26 million units in 2021, up 4% from 2020, as vehicle consumption picks up in tandem with the country's economic recovery, with electric vehicle sales tipped to rise by 40% this year, the China Association of Automobile Manufacturers said on Jan. 13. The positive outlook for vehicle sales will lend support to domestic demand for steel, aluminum and copper for vehicle production in 2021, but might not necessarily generate significant additional demand for these metals, market sources said.