China to become world's third largest automobile manufacturer: report

PricewaterhouseCoopers predicts that China will produce 5.4 million units of automobiles this year, overtaking Germany to become the world's third largest automobile manufacturer after the United States and Japan.

PricewaterhouseCoopers' forecast is based on an analysis of business development trends among the world's 37 major automobile producers, according to Monday's China Automotive News.

It also said that the world's total automobile output will surpass 70 million units in 2010, an increase of 15 percent on 2005.

It attributed fast growth in the world automobile industry to increasing demand for vehicles in China, Russia, India and Brazil.

More than 40 percent of the world's automobiles will be assembled in those four countries, said PricewaterhouseCoopers, which provides industry-focused assurance, tax and advisory services for public and private clients.

Source: Xinhua