Consumer demand for China's auto industry is expected to maintain steady growth in 2022, according to a report from the China International Capital Corporation.

Auto sales are expected to reach 27.22 million units next year, up by 6.2 percent year on year.

More specifically, the wholesales of passenger cars will grow by 8.1 percent year on year to 22.76 million units. Sales of commercial vehicles are expected to fall by 2.2 percent to 4.46 million units, the report said.

Sales of electric bicycles will likely reach 54 million units next year, jumping 14.9 percent from 2021.