The Passenger Vehicle market in China is expected to reach 21.2 million units by 2015, according to a new study.
Passenger Vehicle Market in China 2011-2015 report by TechNavio reveals that one the key factors which will trigger growth of passenger vehilcle is the governmental support to the automotive industry.
According to the forecast, China's automobile ownership is expected to rise dynamically by 2020, due to the speeding vehicle ownership expansion.
The Passenger Vehicle market in China has also been observing rapid collaboration of vehicle manufacturers in China, while the increasing prices of raw material creates the biggest challenge in the country's market.
The report also reveals that the traffic congestion in China has been a major challenge for the growth of the Passenger Vehicle market in the country.
