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PwC's latest Financial Review of the Global Automotive Industry pointed out that in the next four years, while several mature automotive markets in the world will continue to grow, the largest breakthrough growth will come from four emerging economies: China , Brazil, Russia, and India, which will account for more than 40% of total global light vehicle production growth, and account for 52% of the industry's global projected capacity growth. China is expected to surpass Germany this year to become the world’s third largest automobile producer after the United States and Japan.
At the fifth annual meeting of the Chinese automotive industry development held on the 5th, Zhang Zhengzhi, deputy chief engineer of the China Automotive Technology and Research Center, said that from the beginning of the "Eighth Five-Year Plan" to the end of the "Tenth Five-Year Plan", China's private cars will be owned for fifteen years. The proportion of vehicle ownership has increased from 15.8% to 58.5%.
In 2006, China’s auto market will surpass Japan, ranking second in the world. Around 2012, China's auto market will exceed 10 million. After 2020, China's auto market may exceed 20 million vehicles to become the world's largest auto consumption market.
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