Covid impact: Global automakers pin hopes on China's recovery by 2022

The world's biggest car market since 2009, China can still grow for the foreseeable future because of its relatively low penetration and expanding middle class

For two years, falling sales seemed to spell the end for China’s time as the world’s most vital car market. Then came the coronavirus, followed by a swift recovery that’s left Europe and the U.S. in its dust.

Now — more than ever — China is the focus of the hopes of automakers around the globe. Sales of passenger cars in Asia’s largest economy have increased for two months, while the other major markets have continued to shrink, with Europe slumping 18% in August. And China is set to be the first to bounce back to 2019 volume levels, albeit as