Car Sales in China Expected to Boom by 2020
|   Sunday, November 10, 2013
New car sales in China are expected to reach 20 Million by the end of 2020, a new survey conducted by the Global Automotive Forum has found out. These figures are set to double by the end of 2030. Massive growth figures should make China one of the biggest car markets across the globe and major car makers across the world are trying to cut a piece of this pie.

Base GDP of about 7 percent is set to make this a grand festivity while key people in automotive fields expect this to bring an economic glee to car makers penetrating this market region.
Pinnacle Engines CEO Ronald Hoge recently revealed a survey report showing average car sales and demand in different countries. China recorded 40.7 Million units, followed by US's 17.6 Million.

Close at its heels are India with 11.7 Million, Brazil with 7.8 Million and Russia with 5.2 Million. These figures are very bad for Western countries as there is no hope for them within the next three decades at least. Germany for example is expecting 3.2 Million car sales while 2.9 Million is expected in the UK. If China manages to reach predetermined sales figures, it will be due to the market penetration capability of global car makers.

Most car makers are setting up headquarters in Beijing and other important Chinese cities in order to penetrate its economy better. China is in need of SUVS and premium luxury sedans. Hence, German and other European premium segment car makers such as Audi, Mercedes Benz, BMW, Bentley, Rolls Royce and Maserati etc are queuing up to enter Chinese market segments.

Local products are brewing too while Japanese car makers such as Toyota, Nissan, Honda etc are trying to enter the fray as well. Chinese people want to buy vehicles now and this is not just limited to its urban population. Car sales in rural areas have increased too although their needs are quite different from people living in cities. These differences are currently being determined and suitable vehicles will be made available henceforth. This therefore is a very important time for car makers hoping to make a profit.
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