China CV sales plunge 31% in 2022
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By Will Pulson - 27th March 2023
China - Sales of commercial vehicles in China fell by 31% to 3.3 million units in 2022 from 4.8 million units in the previous year, according to passenger and commercial vehicle wholesale data released by the China Association of Automobile Manufacturers (CAAM).
Economic growth in China slowed sharply last year to 3%, missing the government’s 5.5% target as tough lockdowns were implemented in major cities across the country for extended periods to control the Covid pandemic. This was the lowest economic growth rate since the 1.6% contraction in 1976, the year Mao Zedong died.
