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Hu Maoyuan, chairman of SAIC Motor Co., Ltd., predicted during the roundtable discussion at the Boao Forum for Asia “Opening and Convergence of the Automotive Industry†held on the evening of the 6th, that the peak sales of Chinese autos will appear around 2025, reaching 30 to 35 million vehicles. However, sales growth has gradually declined.
This forecast was obtained by the majority of automakers including Ye Yongming, General Manager of Shanghai General Motors, Dong Changzheng, Deputy General Manager of Toyota Motor (China) Investment Co., Ltd., Zhang Baolin, President of Chang An Automobile, and Yin Tongyue, Chairman of Chery Automobile Co., Ltd. The giant boss agrees, however, including Li Feng, executive deputy general manager of Beijing Hyundai Motor Co., Ltd. Xu Heyi, chairman of Beiqi Group, Yao Yiming, deputy general manager of GAC Honda Motor Co., projected a higher peak, reaching 35 million to 40 million vehicles, mainly based on China. The total population, the "double-income" plan proposed by the new government of China, and the prediction of the future number of vehicles for thousands of people in China.
For the development of Chinese auto companies in the future, Hu Maoyuan said that it will strengthen its independent research and development capabilities and international operating capabilities on the basis of joint ventures and cooperation, especially for new energy vehicles. It is expected that new energy vehicles will account for 10-15% of China's total automobile sales in the future.
For the internationalization of Chinese auto companies, Beijing Automobile Group Chairman Xu Heyi also revealed that this year will be the start of Beiqi's internationalization in the field of passenger vehicles. “We have established Beiqi International, a subsidiary of the Group, and have officially opened up the pace of internationalization. We hope to establish the image of China's own brand and steadily move forward in the international market.†