China’s lead on the U.S. new-car market is forecast to widen to a record 4.6 million units this year. With a vehicle ownership rate of about a 10th of their American peers, there’s room to grow.
The CHART OF THE DAY shows sales of new cars and light-trucks the past decade and forecasts for 2015. The lower panel compares nationwide vehicle penetration rates, with only 69 in 1,000 vehicles per Chinese, compared to 786 per 1,000 Americans, according to World Bank data available up to 2011. About two of every three buyers in China were, until recently, first-time auto owners, according to General Motors Co.
