Expert says growth is slowing, but market future remains bright

BEIJING - A senior industry expert predicts that China's automobile production and sales will both grow to about 30 million units by 2015 compared to the 18 million vehicles sold last year.

From 2006 to 2010 the country's auto production and sales grew an average of about 25 percent annually, but for the next five years the growth rate is likely to be around 10 percent, said Dong Yang, vice-chairman of the China Association of Automobile Manufacturers (CAAM).

But he noted that this year the auto market will fail to hit previously projected growth of 10 to 15 percent. "It may be even less than the rise in GDP," Dong said.