The Beijing Auto Show, focussed on the world’s largest car market, began on September 26. China’s auto market has rebounded from the COVID-19 crash in recent months, especially among luxury and electronic high-end brands.
The show reflected three key trends in China’s automotive industry:
- The market’s sharp bounce back since April
- Strong demand for midsize to large luxury vehicles
- A flood of investment in electric vehicles
China’s car sales rose 12% in August compared to the same period last year. This marks the fifth straight increase after plunging during lockdown in January when sales collapsed a record 79% to the lowest since 2005.
Premium vehicles accounted for 15% of the Chinese market in August, up from around 10% for all of last year. Electric vehicles were widely discussed at the Beijing Auto show due to Tesla’s boom in China.
Check out our case study: Tesla takes on “Made in China” and wins over Chinese consumers
Read the latest automotive news from China.
