China to buy 30 mln cars a year by 2018
- By Yan Pei
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E-mail China.org.cn, February 13, 2012
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China may buy more than 30 million cars every year by 2018, predicted J.D. Power analyst Geoff Broderick.[File photo] |
![China may buy more than 30 million cars every year by 2018, predicted J.D. Power analyst Geoff Broderick.[File photo]](http://images.china.cn/attachement/jpg/site1007/20120213/001aa0ba5c8510a2ea7b22.jpg "China may buy more than 30 million cars every year by 2018, predicted J.D. Power analyst Geoff Broderick.[File photo]")
China is expected to see record automobile sales of more than 30 million a year by 2018, nearly twice the current sales number, the Wall Street Journal reported, citing J.D. Power analyst Geoff Broderick.
Last year, China's auto sales hit 18.5 million, compared to the 12.7 million cars sold in the United States, according to the report.
"We are bullish on China," said Broderick. He also commented that the gravity of the global auto market has shifted from the West to the East, and that China will be at the center of the action over the next few years.
Only 20 percent of the global automobile demand was from emerging markets as recently as five years go. Yet by 2010, as much as 51 percent of the global demand for automobiles came from developing countries. China became the world's largest market for automobiles in 2009 and has since maintained that dominance.
China's business press carried the story above on Monday.
Contact the writer of this story at: yanp@china.org.cn.
