Frbiz Forecasts China's Automobile Sales Volume

Oct 11, 2010, 10:00 ET from Frbiz.com

BEIJING, Oct. 11 /PRNewswire-Asia/ -- Frbiz.com one of China's leading B2B search platforms, forecasts China's automobile sales volume.

China's automobile sales volume will, in the next 15 years, keep at a rate of 13% to 15% annual growth. At the end of this year, the total quantity of sedans will reach 25 sets per thousand people.

Japan's sedan inventory rose from 20 sets to 100 sets in eight years, and South Korea needed 12 years.

As China's regional income difference is bigger, China may need more time (perhaps 15 years) to complete this rising period.

If China continues to stimulate the market like last year, China's car quantity could increase from 20 sets to 100 in less time than Japan.

In early 2009, the Chinese government implemented a policy of reducing taxes by a half for vehicles with an engine displacement below 1.6 liters, creating a tax rate less than 5%. In the same year, car sales volume soared 46% to 13.6 million sets of cars.

This year, China's growth rates from April have seen a slowdown. In 2010, automobile industry sales volume is expected to increase 17%, to 16 million vehicles.

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