CPCA sees large potential in Chinese car market

Defeating U.S. sales by over 1 million units, China is now seen as the world’s biggest market for cars. The country sold an estimated worth of about 6 million automobiles in the earlier half of 2009. Sales data from China Passenger Car Association show that passenger vehicles sold posted an increase of 34.2% compared to the previous year. However, CPCA Secretary General Rao Da thinks that the auto sales height already declined because of gasoline price hikes and other factors. (July 8, 2009)