China’s car market is starting to bounce back

China’s car market is starting to bounce back

September 30, 2020 0 By autotimesnews

New car sales are back on track, but the situation is different in the US and Europe.

Recall that the Auto China 2020 international auto show started in Beijing, which was supposed to be held back in April, but due to the coronavirus pandemic, the organizers postponed the event. The start of the auto show marked the post-coronavirus recovery of the Chinese car market.

It is noted that the level of sales in the Chinese car market has returned to previous levels, while analysts from Reuters predict sales growth for the BMW Group in China, including through the launch of new models.

In addition, Audi AG is now continuing to negotiate with the Chinese concern FAW Group on the creation of a joint venture for the production of electric cars in China on the PPE platform, which was developed by the German side.

Sales of new energy vehicles are expected to pick up in the second half of the year. This information is reported by Standard & Poor’s. At the same time, experts predict that China alone will be able to return to the 2019 sales level by 2022.