Chinanews, Feb. 25 – Information from the National Bureau of Statistics (NBS) shows that by the end of 2006, the number of automobiles purchased by Chinese individuals had reached 20 million units, the first time in history.

 

By the end of 2005, the number of automobiles purchased for civil use had reached 31.6 million units, with 18.52 million cars owned by individuals, accounting for 58.6% of the total number. In 2006, some 7 million units of cars were sold in China, more than 60% of them being purchased by individuals. At the same time, one million motor vehicles were scrapped in 2006 while four million new vehicles were put to use. Taking all this into consideration, experts predict that China had 22 million private cars by the end of 2006.

 

Information from the China Association of Manufacturers shows that in 2006, about 7.22 million units of automobiles were sold in China, with 342,400 units being exported to other countries. At the same time, 229,000 units of automobiles were imported by China in 2006. If the number of exported cars was deducted and the number of imported cars was included, then in 2006 about 7.1 million units of cars were sold in the Chinese market.

 

In 2006, China became the world’s second largest sales market of new cars, next to the United States. Insiders say that at present, every one thousand Chinese own about 30 units of cars, far fewer than the world’s average number, in which every one thousand people own 120 units of cars, so there is a great prospect for the Chinese car market, especially private car market. Experts predict that Chinese private car market will keep a high momentum of growth for the next twenty years.