Chinese automakers are expected to account for a third of new auto sales worldwide by 2020, with continuing investment in the sector, according to a KPMG survey unveiled Monday. The survey, which involved 200 executives in the car industry from 28 countries, revealed expectations that automobile sales in China will surge significantly in the next five years due to the nation’s urbanization push. China is rated as the number one investment destination, attracting positive sentiment from 73 percent of respondents in the BRIC countries and 64 percent from respondents in the so-called triad markets of United States, Europe and Japan. A majority of the surveyed executives believe China’s car exports will exceed 2 million units in two years, faster than the 3-5 years that was projected in a similar survey last year, KPMG said.
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