(MENAFN) A report projected that Chinese automobile sales will increase by 8 to 10 percent in 2014, scoring a new high, Xinhua reported.
According to the report, which is released by the China Association of Automobile Manufacturers (CAAM), 24.18 million vehicles are expected to be sold in the country during the current year.
The demand will be driven partly by China's urbanization push and upgrades in consumption patterns, although some of the big cities facing overpopulation and pollution problems have new regulations to restrict auto purchase, said the deputy secretary-general of the CAAM.
It is noted that China has been the world's largest automobile market and producer for five straight years, with a 13.9 percent sales increase to reach 21.98 million vehicles sold.
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