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China’s automotive sector is targeting annual sales surpassing 40 million vehicles within the next five years, as forecast by the China Passenger Car Association (CPCA) secretary general, Cui Dongshu.
The projections also include exports, which are expected to reach ten million units in the international market.
Additionally, Dongshu’s projections suggest a potential doubling of China’s auto exports by 2030.
He emphasises the growth opportunities that lie ahead for the country in both domestic and international markets.
Highlighting the disparity in vehicle ownership rates, Dongshu noted that the country’s current rate stands at 250 cars per 1,000 people, which is considerably lower than that of developed nations.
Dongshu, as reported by South China Morning Post, said: “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.”
by https://www.just-auto.com/news/china-auto-industry/?cf-view