Friday, 22 July 2011

Privately owned cars exceed 70 million in China




China is already known as the world’s largest automobile market surpassing U.S automobile market and now it has been reported in Chinese media that the number of privately-owned vehicles in China has exceeded 70 million units quoting statistics from the Ministry of Public Security's Traffic Control Department.
According to reports, the figure makes up a total of 98.46 million vehicles and 102 million motorcycles on the country's roads. It was also mentioned that the statistics report that currently 11 cities, including Beijing, Shenzhen, Shanghai, Chengdu and Tianjin, which have over one million vehicles on their roads. Among them Beijing has the lion's share of 4.64 million vehicles. In the past six months alone over 10 million new vehicles appeared in the country.

The reports also mentioned that just like the other growing Asian automobile market India, small cars make the vast majority of vehicles on Chinese streets, constituting 90.6 percent of the total number of privately owned vehicles in the country. But the Chinese luxury car market is also among the fastest growing in the world inviting all the global luxury players to the Chinese automobile market. 

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