China's vehicle fleet rises 18% to 184 million

The number of vehicles on the roads in China approached 184 million at the end of June, an increase of 18 percent from a year earlier.
The figure includes 147 million light vehicles, of which 92 percent were privately owned, according to information released by China's ministry of public security.
The number of licensed vehicle drivers has also quickly increased.
In the first half of the year, approximately 15 million people were granted drivers' licenses. By the end of June, the number of licensed vehicle drivers reached 296 million, rising 8 percent year on year. 
The rapid expansion of China's vehicle fleet offers dealerships an opportunity to boost profits with a service-and-parts operation, and also from the sale of used cars.
Dealerships in China currently rely heavily on new-car sales, but price wars have sapped profits.

Source:Automotive News China

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