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Chinese auto industry to remain in golden age for next 20 years

China Knowledge quoted a report issued by the State Council, the Society of Automotive Engineers and Volkswagen China said China auto industry is likely to see over 20 years golden period, and the annual demand for passenger vehicles in the country will reach over 35.2 million units in 2030.

According to the report, the yearly demand for passenger cars in China is estimated to reach over 25.8 million units, 29.2 million units and 35.2 million in 2020, 2025 and 2030 respectively.

Mr Zhang Xiaoyu executive vice-president of the China Machinery Industry Federation said "The number of passenger vehicles in use in China may rise to 200 million in 2020, which means that each Chinese person may own one-seventh of a vehicle on average.”

After the global financial crisis, automakers at home and abroad became optimistic about the great market potential in China small and medium-sized cities, as well as in the western regions.

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