Zhang Guofang, vice president of the Automotive Engineering School at Wuhan University of Technology, has stated at the Chengdu International Trade Fair for Automotive Parts and Aftermarket Services (CAPAS) that 35 million units will likely be the upper limit of annual auto output and sales volumes for the domestic auto industry in China.
A turning point for the domestic automobile industry is approaching with the acceleration of market competition, and the result will likely be negative pressure on downstream industries such as steel, Mr. Zhang said.
In 2015, production and sales of automotive vehicles in China amounted to all-time annual record volumes of 24.5033 million units and 24.5976 million units, up 3.3 percent and 4.7 percent year on year, respectively.