News // Asia
Chinese Auto Demand to Soar
27 January 2004 , 10:47371
By 2020, the demand for automobiles in China is expected to reach 20.74 million units, including 20.43 million sedans, and the total number of cars in China by then will
top 156 million, according to China Automobile News.
The paper quoted the Development Research Center (DRC) of the State Council, China's cabinet, as saying that the forecast was given on the basis of an eight percent GDP growth rate.
China will keep a sustainable, steady and rapid growth of sedan demand within the
next 20 years or even longer, and household cars will become the most important pulling force for China's sedan sector and the mainstay of China's auto industry, the DRC predicted.
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