China's automobile market 2010 - 2022
China's automobile production failing as driver of industrial production since 2018
As supplement to the analysis about the position of the worldwide ten largest carmakers in China and their ten largest Chinese competitors in this magazine, this article offers a comparison of the development of both the automobile and the industrial production from 2010 to 2022.
June 5th, 2023 - Automobile production in China reached its trough with 25.2m motor vehicles since 2010. The peak stood at 29.0m motor vehicles in 2017.
This recent downward trend is shared by auto production in China and global auto production, as the trend report in this magazine points out.
2021 and 2022 development of industrial production and automobile production point again upwards.
Industrial production developed continuously over the period under review. It grew by 135% from 2010 to 2022.
With the decline in car production since 2018, industrial production lacks an important driver of its growth.
This is particularly visible in the following diagram.
Car production almost always developed somewhat more strongly than industrial production, of which it is a component. This slightly above-average development has resulted in its character as a driver of industrial production.
This function cannot become effective since 2018 as the diagram underlines.
