China: Cars Sales And Production Rise +20% In First Half Of 2007

According to the data released by the China Association of Automobile Manufacturers (CAAM), car sales and production both grew more than 20% in the first half of the year. In particular, vehicle production reached 4.46 million units, up by 22.36 percent compared to the same period last year while sales rose 23.31 percent to 4.37 million. Local analysts believe that the trend will continue throughout the year with both sales and production topping a record 8.5 million vehicles by the end of 2007.

China became the world’s second-largest automobile market in 2006 when sales reached 7.28 million units surpassing the then No2, Japan. Industry experts believe that sales of passenger vehicles in China will maintain this kind of high-speed growth (15 to 20 percent) for at least 10 years meaning that it won’t take long for China to become No1. God save the earth…

Via: CAAM