China to become world's biggest auto producer by 2010, experts say

Shanghai. February 13, 2008; China will replace the United States as world's biggest auto producer by 2010, according to a senior government official's prediction.

China, the world's third largest car manufacturer behind U.S. and Japan, is narrowing the gap with first echelon with an annual growth of over 20 percent. In 2006, China's automobile consumption represented 4.3 percent of global auto consumption; however, the number becomes12.0 percent last year.

Last year, China's vehicle output reached 8.88 million units, up 22.02 percent year-on-year and total sales reached 8.79 units, up 21.84 percent year-on-year, while world largest auto making country, the United States, sold approximately 16 million vehicles in 2007, a slight decrease from one year earlier.

"If China's growth momentum continues, it is likely to become the biggest auto producer worldwide within two years," said Xu Changming, director of Information Resources Department under the State Information Center.

Earlier in 2006, Chinese officials estimated that China would replace the United States as world's largest auto market with a total output of 15 million vehicles by 2020.

For more information please visit http://www.gasgoo.com/