Zhang Xiaoyao, vice president of the China Federation of Machinery Industry, said recently that between 1994 and 2003, the total number of private cars in China has increased sixfold.
Zhang Xiaoji said at the 2004 Forum on the Development of Machinery Manufacturing Industry that in 1994 China’s civilian vehicle ownership was 9.4 million, of which private vehicle ownership was 2.05 million, which accounted for 21% of the total amount of civilian vehicles; 2003 The number of civilian vehicles in the country totaled approximately 24 million vehicles, of which 12 million were private cars, which accounted for 50% of the total.
Zhang Xiaolu said that the rapid growth of the market dominated by private cars has enabled China’s auto industry to rapidly become a manufacturing power in the world’s automotive industry.
Zhang Xiaoji pointed out that according to the analysis of the growth characteristics of the automotive market in recent years, the family car will become the most important force for the growth of the entire automobile industry and will become the main body of China’s automobile industry in the future.
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