China's light-vehicle sales expected to grow 8% in 2015
China's light-vehicle sales will rise 8 percent to 21.3 million units this year as the auto market outperforms the overall economy, predicts the China Association of Automobile Manufacturers.
While China's economy is slowing, light-vehicle sales will continue to grow, according to the association.
Customers in Tier 1 and Tier 2 cities are buying their second vehicles, while those in smaller Tier 3 and Tier 4 cities are still buying their first vehicles.
Thanks to rising household incomes, vehicle buyers will continue to migrate from sedans and microvans to bigger vehicles such as SUVs and multipurpose vehicles, the association noted.
The industry group expects SUV sales to jump 25 percent to 5.1 million, and MPV deliveries to surge 35 percent to 2.6 million.
By contrast, sedan sales will rise only 1 percent to 12.5 million, and sales of inexpensive microvans will drop 20 percent to 1.1 million, the association predicts.
Last year, China's light-vehicle sales rose 10 percent to 19.7 million on robust demand for SUVs and MPVs.
Customers in Tier 1 and Tier 2 cities are buying their second vehicles, while those in smaller Tier 3 and Tier 4 cities are still buying their first vehicles.
Thanks to rising household incomes, vehicle buyers will continue to migrate from sedans and microvans to bigger vehicles such as SUVs and multipurpose vehicles, the association noted.
The industry group expects SUV sales to jump 25 percent to 5.1 million, and MPV deliveries to surge 35 percent to 2.6 million.
By contrast, sedan sales will rise only 1 percent to 12.5 million, and sales of inexpensive microvans will drop 20 percent to 1.1 million, the association predicts.
Last year, China's light-vehicle sales rose 10 percent to 19.7 million on robust demand for SUVs and MPVs.
