Chinese Auto Sales Estimated to Hit 40 Million by 2030

Chinese car sales are on track to overtake the United States by the end of the decade as the world’s largest single car market. Sales are estimated to hit 20 million by 2020 and 40 million by 2030 according to the Global Automotive Forum.

The biggest reason for the sales push is growing GDP in China. It is expected to grow by 7% by the end of the decade.  The rise in GDP has automakers expanding to smaller cities and less populous regions where they previously had not offered cars. The Chinese government is also helping the growth by creating more roads.

In comparison, auto sales in the US are estimated to remain stagnant in the US at an estimated 17.6 million car sales by 2030. In Europe, the estimates indicate that Germany will have 3.7 million car sales in 2030, 3.2 million in France, and 2.9 million in the UK. 

Source: Autocar