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  • Shanghai Auto Show

    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

    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. ....

  • #2
    I would LOVE one of the new Porsche Panamera's that they unveiled at the Shanghai show, but the price that I saw quoted for one of them was RMB 2,500,000(over 300K USD)!! That would buy a nice apartment here. I guess that I will never havew one of those or any other really sweet import as long as I live in China. Couldn't imagine coming home to explain to my Mrs. that I had just traded the house for a new ride.

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    • #3
      China made cars have about 30% of the Chinese market, currently the world's largest. They are going into the high end market.

      Foreign car execs see mixed threat from China brands

      Apr 21 SHANGHAI (Reuters) - Local brands took more than a quarter of China's passenger car market last month but foreign executives were mixed in their assessment of the competitive threat, saying quality standards still fell far short of globally acceptable levels.

      Homegrown upstarts such as Chery Automobile, Geely Automobile and Great Wall Motor are showcasing new, high-end brands at this week's Shanghai auto show as they aim to grab a slice of the profitable, foreign-dominated segment.

      Reaction to the attempt, coming less than a decade after motorisation began in earnest in China, ranged from nervousness to downright scepticism from established global players sharing the floor at the show, which opens to the public on Wednesday.

      "I don't find it surprising at all that the Chinese are looking to go into the (high-end) market," BMW AG's global sales chief, Ian Robertson, said ...

      "The question is how long will it take for Chinese brands to compete with carmakers from Europe, Japan, and the United States. This will take time," Ulrich Walker, head of Daimler Northeast Asia operations, said.

      "The big question is how long, but I'm sure that in future the local brands will also be competitive enough to go abroad and to export their products to our parts of the world." ....

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