The Province - China's passenger-vehicle sales will expand by an average eight per cent a year to reach 22 million in 2020, driven by demand for sport-utility vehicles and rising incomes in smaller cities, according to McKinsey & Co.
SUV sales will triple in the 10 years from 2011 for the fastest growth among the vehicle segments, as Chinese consumers become wealthier and buy bigger vehicles, according to a report released today by McKinsey.
General Motors Co., Ford Motor Co. and Volkswagen AG are introducing a wider range of models in China to cater to the world's biggest pool of first-time buyers. Passenger-car deliveries rose 5.2 per cent to 14.5 million last year.
