Auto sales in China approaches to that of US

• Source: Global Times
• [15:27 October 11 2010]
• Comments

In the first eight months of the year, cars sold in China reached almost 12 million units in total, a growth of 39 percent compared to last year, according to an announcement from the China Association of Auto Manufacturers (CAAM) Monday.

And by year-end, the entire number may skyrocket to 17 million, which is equal to the highest auto sales volume in the United States, predicted the CAAM.

In the year 2009, China became the largest car market for new vehicles, with an auto sales volume of 13.64 million units. And till 2020, China may sell over 40 million vehicles, said an economist from the Federal Reserve.