Automakers in China expect 20% sales rise in next 5 years

Fifty executives in joint-venture and domestic automakers expect the growth rate of Chinese car sales will continue at 20 percent in the next five years, according to a global business advisory firm's latest report.

The research report of 2010 China Automotive Outlook released by AlixPartners on April 14 in Beijing, said 70 percent of interviewees believe the growth rate of exported vehicles will be about 10 percent, which means the volume will not reach that of 2008.

In the first quarter of 2010, 4.61 million vehicles were sold in China, up 71.78 percent from a year earlier.

According to the report, 60 percent of Chinese families with over 60,000 yuan ($8,789.25) in annual income have on average one car. And only 16 percent of Chinese families can reach that annual income level. The report said the percentage might increase to 26.8 percent in 2013.

Agencies and Shi Jierui contributed to this story