China Tops the World's Automotive Sales for the 6th Consecutive Year by 23.49 Million Units

CAAM (China Association of Automotive Manufacturers) announced on January 12 that China's automotive sales reached  23.49 million units in 2014, up 9.9%, topping the world for the 6th consecutive year. Though this performance is stable, it is far lower than the growth in 2013, which implies increased uncertainty to this world's largest automotive market. In 2014 China sold a total of 19.7 million units of cars including passenger cars, SUVs, and compact trucks.

Looking at the market in 2015, CAAM forecasts the full year car sales at 25.13 million units, up 7%. China's passenger car sales is forecast to grow 8% to 21.25 million units, and total car sales to grow 7% to 25.13 million units.