Chinese car market grew by 12% in November

Sales of passenger cars in China in November grew by 11.6% and reached 2 million 297 thousand units. As noted in the Chinese Association of Automobile Manufacturers (CAAM), the positive dynamics is recorded for the seventh month in a row, which is facilitated by the country's economic recovery after the coronavirus pandemic. At the end of 11 months of 2020, the Chinese car market fell by 7.6% to 17 million 793 thousand cars. The Chinese authorities at the federal and regional levels are taking measures to stimulate demand for cars, both by removing the restrictions previously in force for the market and by subsidizing the purchase of cars. According to the CAAM forecast, by the end of 2020, car sales in China will decrease by about 2% in compare with the previous year, when 21 million 444 thousand cars were sold in the country. And in 2021, the Chinese car market may grow by 4%, also due to the low base of the first half of the outgoing year.