A new report from IHS Automotive forecasts annual auto sales in China will grow by 74% to more than 30.6 million vehicles a year by 2020 states AutoNewsChina.
The figure will be nearly twice that of the US in 2020, which is forecast at 16.8 million units. China will overtake Europe in auto sales in 2012 when the country is predicted to sell 19.2 million units, while sales in Europe are forecast at 18.2 million units, IHS automotive consulting director James Chao stated in the report.
Last year, approximately 76 million vehicles were sold globally. By the end of this decade, China alone is expected to sell 2.5 million new vehicles on a monthly basis.
Edited by: Paul Whittaker, Editor ipmd.net, [email protected]