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Beijing autoshow: Demand rebound, EV boom mix with murky outlook

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China's auto market has rebounded smartly from the COVID-19 crash in recent months, especially for high-end cars, but questions about the durability of that recovery hung over the Beijing autoshow that started on Saturday.

, expects sales to grow for the full year, general manager Feng Xingya said on the sidelines of the show, formally the Beijing International Automotive Exhibition 2020.expects “single digit growth” in China this year, said Jochen Goller, head of BMW China.“We were heavily affected during quarter one of course, and massively in China,” with a 30% on-year sales drop, Goller told a small group of reporters. But the second quarter saw a 17% rebound and this quarter “is running really well.

The rebound means this year’s sales will fall less than 10%, the China Association of Automobile Manufacturers estimates, better than its May forecast of a 15% to 25% decline.and BMW, boosted by new models, automakers' discounts and a broader recovery in the world's second-largest economy. Premium vehicles accounted for a record 15% of the Chinese market in August, up from around 10% for all of last year, said the China Passenger Car Association.

 

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