Since Genesis officially launched its operations in China in April 2021, it has gained a foothold in the Chinese luxury market by targeting a new generation of luxury automotive buyer, “Generation.
China ends three-year decrease in auto sales chinadaily.com.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chinadaily.com.cn Daily Mail and Mail on Sunday newspapers.
China s vehicle market ended its three-year decline last year, with deliveries edging up 3.8 percent from 2020 to reach 26.28 million. The China Association of Automotive Manufacturers estimates that the market will grow 5 percent to 27.5 million in sales in 2022.
China ends three-year decrease in auto sales--China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.
Auto industry gets smart, adapts to market changes By Edward Tse and Bill Russo | China Daily Global | Updated: 2021-04-14 09:23 Share CLOSE An Audi R8 attracts attention at the Shanghai auto show in 2019. [Photo by Li Fusheng/China Daily]
While auto sales in China suffered a significant drop of 42.4 percent in the first quarter of 2020, they have steadily rebounded and, in 2020, exceeded 25 million units, accounting for 33 percent of the world s auto sales.
The Chinese government has made development of new energy vehicles a priority for the country. In September, President Xi Jinping announced the plan to have the country s CO2 emissions peak before 2030, and to achieve carbon neutrality by 2060.