The production and sales of vehicles in China will likely see strong rises amid the gradual restoration of consumer confidence, according to the preliminary statistics by the China Passenger Car Association (CPCA).
Meanwhile, CPCA forecasts that China’s volume of vehicle scrapping will likely reach 5.0 million units in 2025, which will stimulate sales of 10 million vehicles amid the demand for replacements, equivalent to nearly RMB 130 billion ($18 billion).