Tianjin Updates

Vehicle sales to maintain momentum in China in Q4

(exploringtianjin.com)

Updated: 2022-11-01

7ec5ad998aa5a83152984da38a6e3d6.png

Vehicle sales in China are expected to continue their momentum in the fourth quarter, as customer enthusiasm is fueled by favorable policies from the central government and local authorities.

Local authorities in Tianjin, North China, issued an additional 20,000 license plates earlier this month for those who failed to win theirs in the city's license lottery system over the past five years.

Ding Wen, a telecom engineer in Tianjin, was one of the winners. He said he is comparing several hybrid models from Toyota and Great Wall Motors, but has not yet made up his mind about which to choose. "But of course I will be a car owner by the end of this year," he said.

China has been rolling out a slew of policies aimed at stimulating the automotive sector's growth.

The State Council has halved the purchase tax for the large majority of gasoline models since June 1. The policy will expire by the end of this year.

Market observers said potential car buyers are expected to purchase before the expiry of the policy, which can save them thousands of yuan at volume brands like Volkswagen and Toyota.

Deliveries over the first three quarters of this year reached 19.47 million units, up 4.4 percent year-on-year. The growth rate from January to September was 2.7 percentage points higher than in the January-August period.

The 2022 China (Tianjin) International Automobile Exhibition will be held at the National Convention and Exhibition Center (Tianjin) from Nov 10-15.

With a total exhibition area of 200,000 square meters, it marks the largest international auto show with the most number of manufacturers in China's northern region this year.

There will be 990 exhibition vehicles, including 260 new energy vehicles, household brands such as BMW, Benz and Audi, and luxury ones such as Porsche, Lamborghini and Maserati among other carmakers.

6687828afcf87bc298f86eebf35cef6.png

During the exhibition, major auto companies and exhibitors will hold nearly 30 press conferences to showcase their latest products and technologies. In addition, last year's popular and eye-catching antique cars will be making a comeback at the exhibition.

Visitors will be treated to an immersive experience at the exclusive areas. The Great Geeks space favored by programming model enthusiasts will once again land at the show, with 5G cloud racing, 4×4 geek off-road challenge and other activities.

In addition to the dazzling cars, the show will also host seminars and forums for technological communication and exchanges for those industrial players, as well as interactive and recreational activities for the public.   

Tianjin will launch a one-month auto carnival, releasing a large number of coupons, which can be used with discounts and other initiatives to entice purchases by the public. The show is committed to promoting car consumption to the greatest extent.





 

Copyright ©  Tianjin Municipal Government. All rights reserved. Presented by China Daily.
京ICP备13028878号-35