Not everywhere is it gloomy for automakers. This auto maket is the world 2nd biggest, in 2008, and is growing. Base on monthly figures, this has now overtaken the US market.
At Shanghai show, automakers can be upbeat
At Shanghai show, automakers can be upbeat
For a reeling industry, China is the only major market that is growing
19 Apr 2009 Shanghai [AP] SHANGHAI - International automakers are converging on China’s commercial capital for a show that, once marginal, is now a key showcase — and battleground — for the world’s only major growing car market.
The biennial Shanghai Auto Show, which opens Monday to media and on Wednesday to the public, is expected to feature an unprecedented number of new vehicle launches, reflecting the growing importance of this market for automakers everywhere.
It follows on the heels of Sunday’s Formula One Grand Prix — another Shanghai event symbolizing the city’s obsession with cars.
“The number of new launches, especially from global manufacturers, will set it apart,” says Paul Gao, CFO of Chery Quantum Auto Co., a new unit of Chery Automobile Co. that is developing upscale models for the domestic automaker.
“Many automakers now see the Chinese market as at the forefront,” he said. ...
China, the world’s second-biggest car market, has revived sales after a late-2008 slump with tax cuts and rebates that are pulling small vehicles out of showrooms nearly as fast as companies can make them. ....
19 Apr 2009 Shanghai [AP] SHANGHAI - International automakers are converging on China’s commercial capital for a show that, once marginal, is now a key showcase — and battleground — for the world’s only major growing car market.
The biennial Shanghai Auto Show, which opens Monday to media and on Wednesday to the public, is expected to feature an unprecedented number of new vehicle launches, reflecting the growing importance of this market for automakers everywhere.
It follows on the heels of Sunday’s Formula One Grand Prix — another Shanghai event symbolizing the city’s obsession with cars.
“The number of new launches, especially from global manufacturers, will set it apart,” says Paul Gao, CFO of Chery Quantum Auto Co., a new unit of Chery Automobile Co. that is developing upscale models for the domestic automaker.
“Many automakers now see the Chinese market as at the forefront,” he said. ...
China, the world’s second-biggest car market, has revived sales after a late-2008 slump with tax cuts and rebates that are pulling small vehicles out of showrooms nearly as fast as companies can make them. ....
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