Local Auto Demand in China to Grow 15 percent This Year

摘要

Auto demand in China is expected to increase 15 percent year-on-year in 2003. According to the latest statistics from Chinese auto industry, the annual demand for auto is expected to reach 3.85 million units this year, up 15 percent from 3.34 million units in 2002, and it would be possible for the yearly demand to exceed 4 million units in case that overall local economy extends an upward trend and Chinese governments various consumption-boosting policies get successful. Particularly, demand for passenger cars is foreseen to reach 1.45 million units this year with a year-on-year growth of 23 percent.