The China Daily reports that China’s automobile consumption is expected to grow by 20 to 30 percent each year over the next three to four years, amid potential sales of five million vehicles a year, according to a consulting group.
The head of the China Industry Sentiment Analysis group, Wang Xiaoguang, said China’s high growth in the auto sector last year was a direct result of the country’s WTO entry in late 2001.
Wang said China’s multi-layer demand for automobiles and the size of this demand would keep the country’s high auto consumption growth stable.
Wang also said growth in both China’s auto output and sales is expected to be about 30 percent this year, and that [smaller] economic models will have greater sales potential than mid-range cars.
