China to Have 200 Million Vehicles by 2020

China’s recent marathon traffic jams may be a sign of things to come. From AFP:

The number of vehicles on China’s roads will more than double to at least 200 million by 2020, a top official was quoted Monday as saying, further straining the nation’s environment and energy supply.

China must make it a top priority to develop fuel-efficient and alternative energy cars, the China Securities Journal said, citing Wang Fuchang, vice minister of the Ministry of Industry and Information Technology.

China’s auto sales hit 13.64 million units last year, overtaking the United States as the world’s top car market, while sales this year are forecast to hit 15 million units.

As of the end of 2009, there were 76.2 million vehicles in the country, according to government figures.

And from Reuters:

China’s top economic planner and a leading government-backed research body disagreed at an auto industry forum over whether the world’s largest auto market is facing excessive capacity after breakneck growth in 2009.

China’s top 30 auto groups are expected to have a combined vehicle capacity of 31.24 million units by the end of 2015, up from 13.95 million units as of the end of 2009, a senior official at the National Development and Reform Commission (NDRC) official the forum, which ended on Sunday.

Research results from other government bodies showed planned auto capacity in China’s northeast, southwest, east and south is even higher than the NDRC’s estimate, Chen Bin said, without elaborating.

September 5, 2010 11:37 PM
Posted By: