SHANGHAI, 7th July, 2023 (WAM) -- China's annual auto sales are expected to peak at around 40 million units, said Fu Bingfeng, Executive Vice-President and Secretary-General of the China Association of Automobile Manufacturers. Fu told Xinhua news agency at the 2023 China Auto Forum in Shanghai that the prediction was based on factors like China's vast population and abundant resources. As of the end of 2022, there were 226 vehicles per 1,000 people in China, Fu said at the three-day forum, which began on July 5. Fu said it is highly possible that the country's vehicle ownership per 1,000 people could reach 400 units after more than 10 years of industrial cultivation. Ahlam Almazrooi/Rola AlGhoul
Source: Emirates News Agency (WAM)