By Phil LeBeau, CNBC Correspondent NEW YORK ( CNBC) -- Want to know how rapidly China's auto market is growing? A new report from IHS Automotive forecasts annual auto sales in China will grow by 74% to more than 30.6 million vehicles a year. Take a moment to think about the enormity of that projection. Last year, approximately 76 million vehicles were sold around the world. By the end of this decade, China is expected to sell 2.5 million new vehicles every month.
| More from CNBC Manufacturers Pay a Bounty for Skilled Workers |
VW Revs Up Profits and Pressure on GM
Wall Street Turns Its Back on Investors: Author of 'Hedge Fund Mirage'