Date
23 September 2017

Urban drive seen pushing China car sales to new high

An industry association has forecast that automobile sales in China will rise 8 to 10 percent this year to a new high, Xinhua news agency reported.

As many as 24.18 million vehicles could be sold in the country this year, the China Association of Automobile Manufacturers (CAAM) was quoted as saying in a report released Tuesday.

Shi Jianhua, deputy secretary-general of the CAAM, said demand will be boosted partly by China’s urbanization push and upgrades in consumption patterns, though a number of big cities facing congestion and pollution problems have rolled out measures to restrict auto purchases.

China has been the world’s largest auto market and producer for five consecutive years, with sales and production both exceeding 20 million units for the first time in 2013, the report noted. Sales rose 13.9 percent last year to 21.98 million vehicles.

– Contact HKEJ [email protected]

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