China car market to grow 8% on small-city demand, McKinsey says

ERJ staff report (AN)

Shanghai (Bloomberg) — China’s passenger-vehicle sales will expand by an average 8 percent a year to reach 22 million in 2020, driven by demand for SUVs and rising incomes in smaller cities, according to McKinsey & Co.

SUV sales will triple in the 10 years from 2011 for the fastest growth among the vehicle segments, as Chinese consumers become wealthier and buy bigger vehicles, according to a report released today by McKinsey.

China’s smaller cities will account for almost 60 percent of new car…

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