China's auto sales to make up 10% of world in 2006
(Xinhua)
Updated: 2006-10-02 15:14
China's automobile sales is expected to reach 6.8 million to 7 million this
year, making up one-tenth of the world's total, analysts said.
The figure will climb to 10 million in the year 2010, and 20 million in 2020,
overtaking the United States to become the world's top first-hand automobile
market, according to a forecast of the State Information Center.
The center predicted that more middle-income Chinese families can afford a
car in the coming years thanks to rising income and falling car prices.
Since China joined the World Trade Organization five years ago, Chinese
consumers' demand for sedans has been growing on an average of 37.5 percent
annually, the center said.
This year, the sale of sedans is estimated to hit 4 million, compared with
800,000 units in 2001.
China's automobile sales stood at 3.24 million units in 2002, ranking the
fourth in the world. The position rose to third in 2004.
China will overtake Japan this year to become the world's second largest
automobile seller.
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