Cars

China's vehicle sales may increase 17% to 16m

(Agencies)
Updated: 2010-04-22 11:21
Large Medium Small

China's vehicle sales may rise 17 percent this year to 16 million as annual demand for automobiles may eventually exceed 30 million, an official at the State Information Center said.

Passenger-car sales may jump 21.5 percent to 10.5 million in 2010, Xu Changming, a research director at the government advisory body, said at a conference in Beijing today.

Related readings:
China's vehicle sales may increase 17% to 16m China auto sales jump 56% year-on-year in March
China's vehicle sales may increase 17% to 16m Car stock grows in frosty auto market
China's vehicle sales may increase 17% to 16m China's auto sale gain 56% annual grow in March

"It is conservatively estimated that the saturation point of total demand is at least 30 million, and total auto ownership in China maybe up to 450 million units," Xu said.

The nation's vehicle sales surged 46 percent last year to 13.6 million units, overtaking the US as the world's biggest auto market, after the government reduced the consumption tax on small vehicles and gave subsidies to encourage vehicle-buying in rural areas.
Specials
Columnists
China Daily E-paper