China to Overtake Germany as World's Third Largest Auto Market
Beijing, Dec 22: China`s auto sales will exceed eight million units in 2007, one million more than an earlier industry forecast, allowing the communist giant to overtake Germany as the world`s third largest auto market.
According to the latest forecast from the China association of automobile manufacturers, China will produce eight million autos in 2007.
The CAAM, an important source of industry information, earlier predicted that both china's auto production and sales would exceed seven million this year.
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Removal of the ban came as pressure mounts on city administrators to tackle horrible traffic congestion, air pollution and possible fuel supply, caused to a large extent by a rapidly growing number of cars on the road. PHOTO: First snow in Beijing Dec. 31, 2005, courtesy of China Daily.
In the first 10 months of 2005, China's exported autos increased 133.6 percent year on year. For the first time, auto exports exceeded the import by 7,000 units, including 105 electric cars exported to the U.S. Photo of Miles ZX-40, an electric car it plans to import from China.
Chinese vehicles will be a threat to established U.S. auto sellers because vehicles from China are likely to be much cheaper than those from Europe, Japan or North America.
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