Ratings agency Moody’s says that the outlook for China’s automotive sector remains stable, helped by further projected market growth.
The credit rating company expects China to continue posting relatively robust growth of around 8% annually in its auto market over the next two years, contrasting with more sluggish demand growth in other parts of the world.
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“We revised our growth forecasts for global light vehicle sales to 3.2% in 2014, from 4.8% earlier, mainly because of lower demand levels this year in emerging markets, namely Brazil, Russia and India,” said Falk Frey, senior vice president at Moody’s Corporate Finance Group in Moody’s industry assessment report.
