What is the 2021 Automotive Market Analysis?

[ClaytonAnn]

Related reports predict that China's car ownership is expected to surpass that of the United States by 2025, becoming the largest automotive market in the world. Below is the relevant introduction: Automobile: The latest national standard in China, "Terms and Definitions of Types of Automobiles and Trailers," defines an automobile as follows: A non-track vehicle powered by an engine, with four or more wheels, mainly used for: transporting people and/or goods; towing vehicles that carry people and/or goods; and for special purposes. Passenger Vehicle: Passenger vehicles are primarily designed and technically characterized for transporting passengers and their personal belongings and/or temporary items, including the driver's seat, with a maximum of no more than nine seats.

[DelBrantley]

The 2021 auto market was truly tumultuous, and as an ordinary car owner, I could feel the chaos. At the beginning of the year, the pandemic hadn't subsided, and car production suffered, with the global chip shortage causing major issues—fewer new cars made deliveries a waiting game. My colleague ordered an SUV and waited four months with no sign of it. Prices also skyrocketed, with new cars marked up and used cars becoming absurdly expensive, fueling a hot secondary market. Electric vehicles, however, surged in popularity, with Tesla and others seeing explosive sales growth as young people flocked to buy them for savings and environmental benefits. Overall demand gradually recovered, but supply chain issues persisted throughout the year, and rising raw material costs affected all vehicle models. Buyers now need to be more cautious, pre-ordering months in advance or choosing models with ample inventory—definitely avoid impulsive purchases.

[JamesFitz]

From an insider's perspective in the automotive industry, the 2021 market was quite challenging but full of opportunities. In the first half of the year, production capacity dropped due to the pandemic, and the chip shortage forced automakers to reduce production, leaving inventories depleted. Long queues of customers waiting for cars became common. However, electric vehicle models bucked the trend with strong growth, such as the high demand and strong sales of BYD's EV series, boosted by policies that encouraged more energy-efficient choices. The used car market unexpectedly benefited, with prices soaring over 30%, and trading platforms were unusually active. Consumer preferences shifted towards SUVs and other spacious vehicles suitable for family use, while unresolved supply chain bottlenecks led to rising costs and significant economic fluctuations. Overall, the market is recovering, with China and Europe showing the most stable performance. I recommend buyers act early without hesitation or find reliable channels for a smooth transition.

[AndresDella]

The 2021 car market in the eyes of young people is super exciting—the electric vehicle boom has erupted. Teslas are selling like hotcakes, and we're all rushing to buy them because they're eco-friendly and cost-effective. The chip shortage has made waiting months for new cars the norm, but second-hand apps make buying and selling convenient. Prices have risen, yet demand remains high. The market is recovering, with SUVs and smart cars being popular. Autonomous driving features are particularly appealing. Although supply chain issues are annoying and economic fluctuations are significant, overall, it's slightly better than the previous year. The advice is to compare more options before making a decision—don't rush to place an order.

[Natalie]

Looking back at the 2021 automotive market, I feel there were more variables compared to the old days. The severe chip shortage significantly limited new car production, with buyers having to wait three to four months. Electric vehicles gained popularity, driven by policy support, prompting many to switch cars. SUVs sold well—spacious and practical, but expensive. The used car market was booming with continuous transactions. Overall economic fluctuations and persistent supply chain issues affected costs, but demand rebounded as the market slowly recovered. At my age, I'd recommend choosing a reliable car—prioritize safety over speed.