The Chinese Automotive Market Goes on Growing

China is by now the world's second automotive market. With 7.2 million vehicles sold in 2006 (5.2 of which consist of passenger vehicles), it ranks second after the United States (16.5 million vehicles in 2006) and comes before Japan (5.7 million), Germany and France. But while such markets are consolidated ones, China is still expanding.

This country counted 36 million vehicles in 2006, i.e. 24 per 1,000 inhabitants: this means China is still far from the world's average motorization rate (about 120 vehicles per 1,000 inhabitants) therefore the growth potential of its automotive market still is very remarkable.

Demand is supported by a vast economic growth and a wide offer that limits the prices as well as by the increase in mobility connected with the enrichment of people, most of all in towns, with the urban expansion and with a policy of road network development.

On the other hand, the market development may be limited by the traffic jam in towns, which has already driven some municipalities to adopt restrictions, and by China's dependence on oil which grows wider as cars grow.

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