As expected, China dethroned the United States in 2009 to take the title of world’s biggest auto market. China took the lead on the United States early on in 2009 and never looked back. China will likely retain its title in 2010 as sales are expected to see another tremendous growth period over the next 12 months.
According to the China Passenger Car Association, the Chinese car market account for 13.6 million vehicle sales in 2009 – an increase of about 45 percent from a year earlier. Government incentives helped to rally sales after early 2009 sales figures fell short of expectations.
“This is even better than anyone expected,” China Passenger Car Association general secretary Rao Da said, according to the Associated Press.
The United States market, on the other hand, saw a sharp 21 percent decline in new vehicle sales last year, totaling 10.4 million units. An uncertain economy hampered sales in early 2009, but the U.S. market showed signs of recovery during the last few months of the year.
China will likely hold on to the title of world’s largest auto market in 2010 as some forecasts call for the Chinese market to see another 20 percent increase in new car sales this year. However, some firms are taking a much more conservative outlook, calling for a more modest 6 to 7 percent increase in new car sales.
