Vehicle Sales in China to Grow 7% This Year

Demand for new cars, buses and commercial vehicles in China is likely to grow from 23.5 million last year to 25.1 million or more units in 2015, according to the state-sanctioned China Assn. of Automobile Manufacturers.

The resulting 7% expansion would be equal to last year's pace but only half the growth rate in 2013. Even so, CAAM's forecast represents more than 1.5 million additional sales this year.

CAAM predicts passenger vehicle sales will grow 8% in 2015, led by a 25% jump to 5.1 million units for SUV/crossover models.