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China auto sales growth to slow down by 2012
Shanghai. November 14 (Gasgoo.com) - China's vehicle sales are expected to top 8.8 million units this year, but this growth will slow down within the next five years, an auto industry analyst said.
"China auto market has experienced significant growth in recent years, but that growth rate will drop to somewhere between 15% and 20% within the next five years as China’s total sales are approaching 10 million units," said Zhao Shengli, an auto analyst with China Galaxy Securities Co Ltd.
In the first 10 months of the year, China’s total vehicles sales increased 24 percent to 7.15 million, while total production grew 23 percent to 7.22 million, according to China Association of Automobile Manufacturers.
China's booming economy will continue to boost the growth in the country's automotive market. However the skyrocketing growth of total number of vehicles in use will create pressure on environmental and energy supply.
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