NEW YORK, April 24, 2015 /PRNewswire/ -- According to data issued by the China Association of Automobile Manufacturers, approximately 23.7 million vehicles were produced in China in 2014, an increase of 7.26% from 2013. Approximately 23,491,900 vehicles were sold in China during 2014, an increase of 6.86% from 2013. Demand for luxury vehicles in China is expected to more than double by 2020 to 3 million from 1.25 million vehicles sold in 2012. Figures shows that imported foreign automobile sales continued to show growth in 2014 at a rate of approximately 13% over 2013 and sales volume of imported foreign automobiles in China reached 1.42 million units in 2014.
China Auto Logistics Inc. (NASDAQ: CALI) is a provider of high quality comprehensive imported automobile sales and trading service and a web-based automobile sales and trading information platform in China. The company is one of China's top sellers of imported luxury vehicles, and also manages China's largest imported auto mall in Tianjin, a major entry port in China and the largest port city for imported automobiles.
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