| China to be largest auto market in the world |
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| Tuesday,October 20,2009 Posted: 17:28 BJT(0928 GMT) |
| From:chinadaily.com.cn Article type:Reproduced |
Experts expect that China will become the biggest auto market in the world this year, the West China City Daily reported yesterday. Based on current trends, consumers will buy between 12 and 13 million cars this year, analysts said.
China’s auto sales will reach 10 million units on Tuesday, estimated Rao Da, secretary-general of the Joint Advisory Committee of China Passenger Car Market. About 9.66 million vehicles have been sold in the first nine months of the year, according to data from the China Association of Automobile Manufacturers.
Another analyst, Jia Xinguang said this country’s auto sales will continue to grow rapidly in the fourth quarter, for three reasons: the imminent end of a policy that halved the sales tax on mini cars, the auto exposition in Guangzhou, the capital of Guangdong province and new cars like Audi Q5 entering the market.
In addition, China has produced 10 million units of cars so far this year, becoming a l0-million-unit car producer, according to auto.qq.com.
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Supply & Demand
