Private cars exceeded 20 million in China

According to data released by the State Statistics Bureau, by the end of 2006, China's privately-owned vehicles surged to more than 20 million.

The data showed that by the end of 2005, there were 31.6 million civilian vehicles in China, of which 18.52 million were private cars, accounting for 58.6% of total private cars, cargo vehicles were 4.52 million units, and 13.84 million were passenger cars. In 2006 more than 7 million cars were sold, it is roughly estimated that more than 60% were for private usage. Excluded 1 million scrapped and added 4 million newly bought, experts estimate that by the end of 2006, private cars will reach nearly 22 million in China.

According to the China Automobile Industry Association statistics, in 2006 domestic car sales reached 7.216 million units, including 342,400 exported vehicles. Excluded exports and added imported 229,000 cars, total domestic sales reached about 7.1 million in 2006.

In 2006, China has become the world's second largest new car market after the United States. The fact is that less than 30 units per thousand people in China and the average is 120 cars per 1,000 persons globally. It is believed that there is a tremendous potential for China car market development, especially private car consumption will maintain its rapid growth in the next 20 years.