Automotive Sales In China Expected to Reach 27.7 Million Units

According to a German financial report, the global automotive market will remain a strong growing trend but the growth in every region differs. During 2012-2019, the automotive sales in China is expected to be doubled while that in the EU will feel a bit hard to maintain the level achieved in previous years.

The forecast shows that the 2013 sales in China is expected to be 18.1 million units and may reach 27.7 million units by 2019. By then, Chinese market will be as huge as the total market scale of the US and West Europe. The automotive sales of the European market (i.e. the EU and European Free Trade Association) will be 12.1 million units and will be 14.9 million units by 2019. In the same period, the automotive sales of the U.S. will increase from 15.4 million to 16.7 million units.

The forecast states that the automotive markets in Western industrialized countries have been saturated and the passion of European car owners to buy new cars has declined. The automotive markets in new emerging countries will continue to grow because more and more people can afford to buy cars and show their interest in buying cars. By 2019, the global car manufacture will be about 25 million units, 2/3 of which will be from China and other new emerging economies in Asia. North America (12.3%) and the EU(11.4%) will total 1/4 of the global production; there will be also a slight increase in South America (8.1%) and East Europe(6.5%). The production of cars in Germany will continue to grow and will grow to nearly 1 million units to 6.3 million units during 2010-2019. The total production of cars in Spain, France, UK, and Italy will increase nearly 1.2 million units to 8 million units.