China should have more than 200 million cars in 2020
Posted by admin | Under business opportunity, facts, information, plans, tidings Monday Sep 6, 2010The number of vehicles in China would exceed 200 million in 2020, reported Monday's China Securities Journal, citing a government official.
This sharp increase in the number of cars in circulation may pose problems for the environment and energy security, said Sunday Fuchang Wang, Vice-Minister in the Ministry of Industry and Information Technology at an automotive conference.
The Chinese automotive market is one of the mainstays in the global automotive industry is still recovering from the slowdown experienced last year.
Sales have shown signs of slowing from the start of the second quarter but rebounded sharply in August, thanks to government subsidies for the purchase of clean vehicles.