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China's private car ownership jumps 32.5% in 2007
Shanghai. February 29 (Gasgoo.com) - The total number of private cars in China jumps 32.5% to 15.22 million units by the end of 2007, according to Chinese government statistics released yesterday.
By the end of last year, total number of vehicles on roads of China has reached 56.97 million units, up 14.3 percent from the year 2006. The total number in 2007 includes 14.68 million three-wheeled vehicles and low-speed vans. Of these vehicles, 35.34 million are private cars, an increase of 20.8% from one year earlier.
Currently, China’s vehicle ownership per thousand populations is below 50, while the number is 740 in the United States and world average is 120, said Dong Yang, vice chairman of the China Association of Automobile Manufacturers (CAAM).
In 2007, there are 8.79 million unit of vehicles sold in the Chinese market, up 21.84 percent from the previous year. Analysts say that the sales will exceed 10 million units this year due to growing demand.
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