China's auto sales to grow slightly in next five years, industry body predicts

FILE PHOTO: Newly manufactured cars are seen at a port in Dalian, Liaoning province, China April 10, 2020. China Daily via REUTERS

TIANJIN, China/SHANGHAI - China’s auto market, the world’s biggest, is expected to grow only slightly in the next five years, the country’s top auto industry body said on Friday. “The next five years will be the key period of industry’s transformation and upgrade,” Li Shaohua, senior executive at the China Association of Automobile Manufacturers told an industry conference hosted by China Automotive Technology and Research Center in Tianjin.

CAAM predicts China’s auto sales will reach around 27.75 million vehicles in 2025, up from 25.77 million units in 2019, Li’s presentation showed. Though sales have picked up in recent months, CAAM predicts they will fall around 10% for all of 2020, as the COVID-19 pandemic hit the market hard early in the year.

Very few cars that are branded “American” are actually fully Made in America.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Google announces companywide holiday for Friday, September 4 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I don't know who need this, i wanna use this free moment to teach whoever wants to learn Cryptocurrency trading or if you already have an idea but don't make profits in ur trades, inbox me to learn more.
Source: BusinessInsider - 🏆 729. / 51 Read more »