China auto market will likely sustain another strong growth in 2014, helped by an anticipated array of economic stimulus measures and robust demand for cars in smaller cities of China's interior regions, according to industry executives and analysts.
After sales expansion rates slumps in 2011 and 2012 to 2.45% and 4.33%, China auto market grows strongly for a second year. In the past ten years, Chinese auto demand surged 30% to 40% annually.
Those hyper growth days have gone, Chinese market of last year rebounded convincingly.According to the China Association of Automobile Manufacturers, China auto sales in 2013 increased 13.9% to 21.98 million vehicles.
"We believe clearly for anybody working in the automobile industry, if there's one place to be, it's China," Hubertus Troska, head of Daimler AG's Greater China operations that include Mercedes-Benz, told reporters in Beijing on Thursday, describing growth in 2013 as being quite strong.
The strong growth of China auto market is a relief to global automakers whose business is still impaired by sluggish demand in Europe and an anticipated slowdown in growth in the United States this year.
written by Nicolas Yang
