China Could Sell 40M Cars a Year in 2020

Although it is currently the world's largest auto market, there is no doubt China keeps growing. And even if Beijing has already imposed a number of regulations to fight against congestion, and other authorities are gearing up to do the same, China will continue its growth, with the peak to be achieved not sooner, not later than 2020. This is what Dazong Wang, president of Beijing Automotive Industry Holding Co., said at the Automotive News World Congress when talking about the future of the Chinese auto sector.

What's really interesting is that his forecasts are incredibly optimistic and, contrary to what local authorities are planning, they could make their efforts to reduce pollution and ease traffic just a waste of time. Around 40 million vehicles, including cars, buses and heavy trucks, will be sold each year by 2020.

This would mean that the Chinese auto sector would have to experience a yearly growth of 11 percent which, in the context of the boom the country has registered in the last few years, seems doable.

“I really believe 40 million units is realistic in 10 years,” Wang said according to Automotive News. Last year, China sold a total of 18.3 million vehicles, with most carmakers, if not all, posting significant increases.

“You will see Chinese products on a global stage, but [Chinese automakers] won't be like Japan. China will account for 50 percent of the world's sales volume,” said Wang who also predicted that some automakers could rely more on their Chinese operations and even build vehicles in the local facilities for their respective domestic markets.
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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