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SHANGHAI - April 16, 2019: Today is an important milestone for Groupe Renault in China. During a press conference (access to broadcast) at the Shanghai Motor Show, Thierry Bolloré, CEO of Groupe Renault, presented a clear road map and high ambitions for the Group in China by 2022: a target of 550,000 units sold per year – in line with the Drive the Future plan. To realise this ambition, Groupe Renault is opening a new chapter of Renault’s history in China’s EV market with the presentation of Renault City K-ZE: a global A segment fully-electric urban vehicle with a SUV design.
Some 28.1 million cars were sold in China in 2018, making it the world’s largest automotive market. With a car ownership rate that remains low, at 141 cars per 1,000 inhabitants (compared with around 600 in Western Europe and 800 in the United States), the country is attracting carmakers. Groupe Renault's number-four market, China is one of the key pillars in the Drive the Future strategic plan owing to its strong growth potential. Renault’s strategy is based on three joint ventures. With a little over two weeks to go before the Shanghai Motor Show, we review the major trends in the Chinese automotive market.
SALES FIGURES IN CHINA
Groupe Renault sold 216,699 vehicles in China in 2018, up 200.3% on 2017 (72,137). Since January 1, 2018, following the creation of a joint venture with Brilliance China Automotive Holdings Limited, the sales volumes of the Jinbei and Huasong brands are included in the sales figures. The group is also stepping up its sales offensive in electric vehicles by investing in JMEV, the number-five EV manufacturer in China. The objective with the three joint ventures is to sell 550,000 vehicles in 2022.