Between 2013 and 2023, the turnover of the wholesale car market in China exhibited significant variability. The market saw its highest point in 2013 at 1.02 hundred billion yuan, followed by a general decline and several fluctuations. Following a sharp drop in 2018, the market showed intermittent recovery phases. By 2023, the turnover value was 0.76235 hundred billion yuan, demonstrating a 3.82% year-on-year increase and a 5-year CAGR of 3.64%.
From 2024 onwards, the market's turnover is expected to grow steadily but modestly, with an anticipated 5-year CAGR of 0.93%. The projected turnover in 2028 is 0.80842 hundred billion yuan, indicating a cumulative forecasted growth rate of 4.75% over the five-year period.
Future trends to watch for:
- Adoption of new energy vehicles (NEVs) and their impact on market dynamics.
- Policy changes and their influence on the automotive sector.
- Potential fluctuations due to global supply chain disruptions.
- Technological advancements in autonomous driving and connected vehicles.
