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China’s auto industry is likely to sell more than 40 million vehicles per year over the next five years – including 10 million to the overseas market—as the sector still has “vast potential” for growth, according to an industry insider, reports the South China Morning Post. The estimate by Cui Dongshu, secretary general of the China Passenger Car Association (CPCA), indicates that China’s auto industry—already the world’s top exporter in volume terms—could see overseas sales nearly double by 2030.
Cui acknowledged in an article posted online on Saturday that his estimate may be more optimistic than the general consensus, but stressed that China had the ability to achieve it as there was still plenty of room for growth in both the domestic and global markets.
“There is still vast potential for market expansion in China’s less developed regions, such as mid-western districts and rural areas, where car ownership levels could gradually surpass those in metropolises like Beijing and Shanghai,” he said.
by https://chinaeconomicreview.com/china-to-export-10mn-cars-per-year-by-2030/