German autos association lifts forecast for China growth
[FRANKFURT] German carmakers' association VDA raised its forecast for 2016 growth of China's car market to 6 per cent, citing a pickup of sales there in the fourth quarter.
"The Chinese passenger car market has switched on turbo gear again since October," VDA President Matthias Wissmann said in a statement on Monday, as he attended the Geneva car show.
In December, VDA had said it expected car sales in China to grow by 2 per cent this year.
VDA also said on Monday it expected sales of light vehicles in the United States to reach 17.5 million this year from 17.44 million in 2016, while it sees global car sales growing by 2 per cent to 80 million.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
China's largest auto show displays all-electric future, local brands dominate
Toyota hits record annual output, sales on robust demand
Nissan, Mazda roll out new models for China as they aim for comeback
VinFast chief plans to invest US$1 billion more from his fortune in EV maker
XPeng CEO says its software, AI upgrades to enter ‘super fast cycle’