| Individuals to boost sedan sales |
| Last Updated(Beijing Time):2006-12-29 11:15 |
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Individual purchases will account for 77 percent of China's sedan sales in 2006, spurring the booming market, according to the China Association of Automobile Manufacturers.
Sedan sales will exceed 3.8 million at the end of this year, which means individual buyers will drive about 2.9 million sedans out of the showrooms.
As prices fall, incomes rise and new economy models enter the market, individuals have overtaken government institutions and enterprises as major purchasers of sedan cars.
In the late 1990s, when the cost of a sedan was beyond the reach of common people, government institutions and enterprises accounted for 60 percent of car sales.
With domestic manufacturers boosting production and finding ways of cutting costs, sedan prices will drop further, said an expert with the State Information Center.
A peak is expected around 2009 as more middle-income Chinese families realize their dream of owning a car.
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