Wednesday, August 10, 2005

China's Car Boom

In land of bicycle, car boom brings freedom of open road: In car terms, life really began in China around the millennium. Some 1.2 million cars rolled off the lots in 2002, a spike in demand of 30 to 40 percent. That figure jumped 70 percent in 2003, to about 2 million. Last year, Chinese bought 2.4 million cars, according to official figures, and growth is expected to be about 15 percent this year, with 10 percent becoming the annual norm by 2015.

(Thanks Kate from APC!)


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