An economically favorable background for Auto Shanghai: In the first quarter of 2021, China’s market for new vehicles has grown strongly. From January to March 2021, China’s auto production and sales volume were 6.352 million and 6.484 million units respectively, which means an increase of 81.7% and 75.6% compared to the previous year. The sales volume of passenger car is 5.076 million with a 75.1% growth. The production and sales of commercial vehicles were 1.397 million and 1.408 million, a year-on-year increase of 76.9% and 77.4%.

The high growth is partly due to the industry’s slump during last year’s epidemic and partly depends on post-epidemic rebound in demand has continued to be strong and healthy.