Currently, the world economy goes into downturn and auto market is gloomy, but Chinese auto market still has huge potential development. The business of passenger vehicle is an example. In the US, per 1,000 people there are 700-800 passenger cars, while in China the number is less than 20. Despite dark clouds on the economic horizon, many Chinese families will not give up the purchasing auto plan. They have a stable income.

For many auto manufacturers, they will continue to invest in China. Yale Zhang, a Shanghai-based auto analyst with US consultancy CSM Worldwide said ” Although the current actions of putting investment into China may not help them much to weather the global crisis, it makes sense for long-term profitability”. Wang Lei, a media employee in Beijing, who cannot wait to say goodbye to the experience of squeezing himself into the subway every morning. He said, “Some of my money vanished in the stock market, I can still afford a vehicle for less than $30,000”.

Under the world economic crisis, auto sales in China this year are not exception to the financial crunch, falling from two-digit annual growth to one-digit. Many experts predict that China’s auto market will recover from financial storm within 2 years.

Source : english.chinabuses.com

Editor : Frederick

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Tags: Chinese Auto Market Potential Development