Autos Total market

Indicator 2017 2018 2019 2020f 2021f 2022f

Vehicle sales (mn) 4.14 4.38 3.87 4.26 4.68 5.13
Vehicle sales (%yoy) 10.20% 5.80% -11.80% 10.10% 9.80% 9.70%

PV
Indicator 2017 2018 2019 2020f 2021f 2022f
Vehicle sales (mn) 3.29 3.38 2.94 3.16 3.41 3.69
Vehicle sales (%yoy) 7.90% 2.70% -12.90% 7.30% 7.90% 8.30%

CV
Indicator 2019 2020f 2021f 2022f 2023f 2024f
Vehicle sales (mn) 923,535 1,100,854 1,270,385 1,440,617 1,583,238 1,709,897
Vehicle sales (%yoy) -8.30% 19.20% 15.40% 13.40% 9.90% 8.00%

Consumer vehicle market

2,500,000 2

2
2,000,000
1
1,500,000 1

1,000,000 5

0
500,000
-5

0 -1
2019 2020f 2021f 2022f 2023f 2024f 2025f 2026f 2027f 2028f

Vehicle sales (mn) Vehicle sales (%yoy)

 Total Autos market
2023f 2024f 2025f 2026f 2027f 2028f
5.63 6.1 6.59 7.08 7.58 8.21 9
9.80% 8.40% 8.10% 7.30% 7.10% 6.19% 8
7
6
5
4
3
2023f 2024f 2025f 2026f 2027f 2028f 2
4.05 4.39 4.74 5.08 5.44 5.8
1
9.70% 8.50% 7.90% 7.30% 7.00% 6.70%
0
2017 2018 2019 2020f 2021f 2022f 2023f 2024f 2025f

Vehicle sales (mn) Vehicle sale

2025f 2026f 2027f 2028f

1,855,239 1,992,526 2,137,981 2,291,915
8.50% 7.40% 7.30% 7.20% Passenger Vehicle m
7

2
market 1
25.00% 0
2017 2018 2019 2020f 2021f 2022f 2023f 2024f 202
20.00%
Vehicle sales (mn) Vehicle
15.00%

10.00%

5.00%

0.00%

-5.00%

-10.00%
2025f 2026f 2027f 2028f

ehicle sales (%yoy)

tal Autos market
15.00%

10.00%

5.00%

0.00%

-5.00%

-10.00%

-15.00%
2022f 2023f 2024f 2025f 2026f 2027f 2028f

ales (mn) Vehicle sales (%yoy)

nger Vehicle market

15.00%

10.00%

5.00%

0.00%

-5.00%

-10.00%

-15.00%
21f 2022f 2023f 2024f 2025f 2026f 2027f 2028f

e sales (mn) Vehicle sales (%yoy)