Published on 18 Jan 2022 on Zacks via Yahoo Finance

Auto Roundup: F & GM's 2021 China Sales, ALSN-Autotech Partnership and More

Last week, the China Association of Automobile Manufacturers released 2021 vehicle sales data. A total of 26.28 million vehicles were sold in China last year, marking a 3.8% increase from 2020 levels. While COVID-19 concerns and chip deficit disrupted production, the overall vehicle sales growth was primarily driven by strong sales of green vehicles. In a telling sign that chip shortage was wreaking havoc on the industry, vehicle sales in the country in December 2021 declined for the eighth straight month. The bright spot for China’s auto market in 2021 was the soaring popularity of electric vehicles (EVs). According to data compiled by the China Passenger Car Association, full-year deliveries of new energy vehicles skyrocketed 169% to a record 2.99 million units.

U.S. auto giants General Motors GM and Ford F released their vehicle sales data in China for 2021. While GM’s full-year deliveries in the world’s largest car market remained flat year over year, F’s 2021 deliveries in China witnessed year-over-year growth of nearly 4%.

Meanwhile, results of the 2022 NACTOY (North American Car, Truck and Utility Vehicle of the Year) awards were announced last week. Ford Maverick was named as 2022 Truck of the Year, while Ford Bronco took the Utility Vehicle of the Year honor. Meanwhile, Japan’s auto biggie Honda’s HMC popular Honda Civic claimed the Car of the Year win.