China’s market demand of automobiles to reach 29.98 million in 2018: report

China’s market demand of automobiles is expected to reach 29.98 million in 2018, according to a report released by China Association of Automobile Manufacturers (CAAM) on Jan. 11, China News reported.

The report, which analyzed factors including macro economy, population structure, products, and policies that influence the automobile market, found that sales volume of automobiles in China is expected to rise by 3 percent in 2018.

Statistics by CAAM show that China’s automobile sales saw an increase in both domestic and global markets in 2017.

By December 2017, the number of new energy vehicles in China reached 1.73 million, and that of blade electric vehicles hit 1.5 million, according to the statistics.

In addition, there are 213,900 public and 231,800 private charging piles in China, making China the country with the most number of blade electric vehicles and charging piles.