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New energy vehicles a bright spot despite sluggish auto market

(People's Daily Online)    17:19, January 05, 2016
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China saw the "new normal" of slowed growth come into effect in the automobile industry in 2015. The growth rate in the auto market is expected to be around 3 percent in 2016.

Meanwhile, the market performance of Chinese domestic automobiles and energy-focused automobiles is especially strong, so the production of these automobiles has become a priority for automobile companies.

In 2015, China saw a year of declining sales and production in the automobile industry. The growth rate in the industry for 2015 was around 3 percent, said Dong Yang, Standing Vice-Director and Secretary General of the China Association of Automobile Manufacturers (CAAM). China is expected to continue with a growth rate of 3 percent or lower in the next few years, said Jia Xinguang, Executive Director of the China Automobile Dealers Association.

The development of energy-focused automobiles and domestic brand automobiles has become a bright spot in the auto market.

The data from CAAM shows that the share of Chinese domestic automobiles had increasing growth while the overall Chinese automobile market fell in 2015. In addition, China has overtaken the United States to become the world's largest maker of and market for energy efficient vehicles.

Auto manufacturers are also thinking about future development of domestic and energy-focused automobiles. As early as 2011, Xu Heyi, President of BAIC Group, pointed out that Chinese automobiles and energy efficient vehicles would be a key to the development of the automobile sector.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Ma Xiaochun,Bianji)

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