Shanghai, May 31 (Gasgoo.com) With its auto sales growing rapidly, China is expected to overtake Japan to become the country with the second-most vehicles on the road by next year, Shanghai Securities News reported today, citing an industry expert.
Xu Changming, a research director at the State Information Center, said last week that vehicle ownership in China may has been rising annually and may reach 75 million units by the end of this year or early next year from 63 million units in 2009.
China surpassed the United States as the world's largest auto market last year, with sales increasing by 45% to 13.6 million units and accounting for 22% of global auto sales. China auto sales for 2010 are likely to reach 17 million units, according to industry forecast.
The number of vehicles in China is expected to eventually rise to about 490 million units, Xu was quoted as saying, without giving a date, Bloomberg News reported.
The U.S. has the most vehicles on the road with more than 254 million units registered in 2007, according a research unit of the Department of Transportation.
Alternative-energy vehicles will become a growth point in China's future auto market, as conventional fuel is unable to meet the rising market demand, Xu added.
