Per-Capita Car Ownership in China to Climb 67% by 2010
The per capita automobile ownership ratio in China will increase by up to 67%, to “just” 40 cars for every 1,000 citizens by 2010. It is currently as 24 per 1000. This is according to a report by Chinanews. By contrast, the United States has 765 vehicles per 1,000 people. Europe has an average of about 300 vehicles per 1,000 people
China is the third largest auto consuming country in the world. Agencies predicted that 55 million vehicles will beg on China’s roads by 2010, while annual car production rate will be 9 million units a year. During the last 10 years, China's auto market has grown 500%.
And experts in Chine forecast continuing annual increases of about 10% in the Chinese market for decades to come, leading to large increases in gas prices.
It is estimated that there are only between 43 million and 47 million vehicles on the road in China -- about as many as there were on U.S. roads in 1947.
These demand and growth in cars will lead to higher worldwide gas prices, and increase any tips for saving gasoline that you can find.