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While car manufacturers and dealers can look forward to outstanding market growth in China, the sector’s recovery in the more established markets of North America and Western Europe will likely remain slow. According to a new report released by KPMG, car sales in China are set to increase by more than 60 percent between now and 2020, almost double the expected rate of growth for Western Europe and four times that of North America.
“By 2020, we estimate that almost one in three cars manufactured will be sold in China,” said Mathieu Meyer, KPMG’s Global Head of Automotive and partner with KPMG in Germany. “This represents a massive shift for both manufacturers and dealers; in fact, we estimate that the number of dealerships in China will need to almost double between now...
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