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29-12-2007
Chinese
auto sales are likely to hit or surpass 8.7 million units in 2007, 20 percent
more than the previous year, Zhu Yiping, a China Association of Automobile Manufacturers
official, said Friday. Last
year, more than 7.2 million autos were sold in the country, surpassing Japan and
trailing only the United States. Battered
by rocketing oil prices and economic recession, depression loomed over the European,
American and Japanese auto markets. In the first three quarters, the European
auto market only saw a modest 0.7 percent annual growth while Japan dropped back
to the level of 30 years ago. Experts
ascribed the robust growth to increasing market demand, as a recent survey by
the State Information Center revealed more than 10 million Chinese households
wanted to buy private cars soon. This was boosted by rising incomes and falling
car prices. Association
statistics revealed domestic manufacturers had released nearly 90 new vehicle
models onto the market this year.
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