Figure 1. Sino Thai macro: auto production and sales have turned positive in 21 years

Although disturbed by the global automobile “core shortage” and the epidemic situation in China, China’s automobile production and sales both turned positive in the whole year of 21 years. According to the data of China Automobile Association, in 21 years, China’s automobile production and sales completed 26.082 million and 26.275 million respectively, with a year-on-year increase of 3.4% and 3.8%, ending the downward trend for three consecutive years, mainly driven by the strong growth in the production and sales of new energy vehicles. In 21 years, the production and sales of new energy vehicles were 3.545 million and 3.521 million respectively, with a year-on-year increase of about 1.6 times, the growth rate reached a new high in 16 years, and the proportion of production and sales of new energy vehicles also increased significantly in 21 years. However, from the current ownership situation, by the end of the 21st century, the total number of Shanxi Guoxin Energy Corporation Limited(600617) vehicles had reached 7.84 million, accounting for 2.6% of the total number of vehicles. There is still much room for the development of new energy vehicles.