China’s auto market will exceed 30 million vehicles by 2020

China’s auto market will increase to 31 million vehicles by 2020, the forecast was made by IHS Automotive.

Last year China had sold 17.7 million cars and small commercial vehicles, which is 5 million more than in the U.S. (12.8 million units.).

If analysts’ forecasts come true, by 2020 the capacity of the Chinese market is almost twice of the U.S. car market (16.8 million units.) And Europe (18.2 million units.). At the same time in Russia, by that time 3,2-3,6 million cars and small commercial vehicles will be sold, which is almost 10 times lower than in China.

“But it is not surprising, because China’s population by 2020 is just about 10 times the population of Russia, and the income of working citizens to be roughly comparable,” said Sergei Tselikov, the director of agency “Autostat”.

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