China's
automobile sales is expected to reach 6.8 million to 7 million this year, making
up one-tenth of the world's total, analysts said.
The figure will climb
to 10 million in the year 2010, and 20 million in 2020, overtaking the United
States to become the world's top first-hand automobile market, according to a
forecast of the State Information Center.
The center predicted that more
middle-income Chinese families can afford a car in the coming years thanks to
rising income and falling car prices.
Since China joined the World Trade
Organization five years ago, Chinese consumers' demand for sedans has been growing
on an average of 37.5 % annually, the center said.
This year, the sale
of sedans is estimated to hit 4 million, compared with 800,000 units in 2001.
China's automobile sales stood at 3.24 million units in 2002, ranking
the fourth in the world. The position rose to third in 2004.
China will
overtake Japan this year to become the world's second largest automobile seller.
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