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Auto sales in China will expand by an average of 8% a year to reach 22M in 2020, according to...

Auto sales in China will expand by an average of 8% a year to reach 22M in 2020, according to estimates from McKinsey. The firm sees a trend of Chinese consumers becoming wealthier, motivating them to start to buying bigger vehicles.
Comments (1)
  • melwm
    , contributor
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    I'm a consultant in the chemical industry and have traveled to China frequently over the last 8 years. Roads in China are currently jam packed with cars. Some cities like Shanghai already charge very high fees for the registration of a vehicle n order to discourage new vehicles coming into the car park. Other cities have every other day driving. In 2005 there were only 10 million passenger vehicles in all of China. Considering that 18 million will be sold this year, the question needs to be asked whether the infrastructure of roads can actually absorb all of these projected new vehicles. For the larger cities like Beijing and Shanghai this will be a real challenge.
    23 Nov 2012, 09:36 AM Reply Like
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