Korean Media: “World Car Industry Depends on China”
A recent article in South Korea’s Joong Ang Daily remarked that the worlds car industry now depends upon the Chinese market until other markets improve.
Partial translation:
By September 30th 2009, China had sold over six million cars, an increase of 17.7% over the first nine months of 2008, America has only sold 4.8 million cars in the first 9 months of the year, which pushed China to the number one spot of worlds biggest car consumers. The reasoning for China’s jump to worlds no 1 spot is quite simple, its due to the introduction of policies that geared the people up to buy cars. The government halved tax on cars with engines smaller than 1.6l and also promoted light vehicle sales to farmers and villagers.
Next year there might not be any of these policies even though the economy is improving, the car industry might need to keep them for the time being.
彭博资讯展望said “Next Year China will be the worlds largest car market”, the whole car industry is aiming to get into the Chinese market
Ford reently announced their plans to build a third plant in China’s south-west; FAW and GM are planning to build light trucks in China, and Fiat have launched a JV with Guangzhou; Nissan and Dongfeng are planning to increase their production work force with 1200 new men and Toyota are planning to launch the Camry hybrid in China. Global car makers launched 89 new car models in China in the first half of the year, the second half of the year is expected to see 50 new models being launched.Beijing-Hyundai is expected to increase its production from 500,000 vehicles to 600,000 vehicles to keep up with demand.
British car company Landrover have already stated that they are basically relying on the Chinese market to carry them through some lean times, but just how potent is the Chinese market on a whole? There is obviously room for growth, but eventually something will break the camels back and car sales will stutter once again like they did in January this year, will the American and Japanese car markets pick up again in the near future, and push China back down the list?
Instead of debating here in the article, we’re going to allow this debate to be carried out by CCT readers via the comment box.
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we are saying the world and after that,we will take it over!!!!!!CHINA ALWAYS!!!!!
Well, the article was talking about foreigners selling their cars to Chinese consumers, not Chinese-brand cars taking over the world or anything like that.
all “foreigners” cars made in china have a chinese partner,which most of the times its a govermental company…hahaha!!
Chinese should buy more or their own cars!!
The foreign cars have a share of 75%. Most of the government cars come from abroad. This is sick!
You don’t have that in any other major economy with functional domestic car industry!
What’s so awesome about BMW anyway?! Consumes gallons of gas and has easily the ugliest design I have ever seen!!
South Korea will be the world’s No.1 car market and No.1 car producer. We are Koreans. Long live Korea.
The Chinese should support and buy their own Chinese cars, and reduce the purchase of Korean cars.
“South Korea will be the world’s No.1 car market and No.1 car producer. We are Koreans. Long live Korea.”
a clap for the idiot who just proclaimed South Korean as the “no.1 Car Market”. Clearly the Koreans have the head stuck too far up their own arse. Stand back because the Koreans will no doubt claim any No.1 spot that is available.
It is a good job by the Chinese Government to halved tax on all brands, without any exemptions on foreign car makers or local car makers.
This move has generated a new level of confidence to the foreign car makers and decided to pump in more investment —> more jobs for the local chinese!
While The local car makers does not wins all the market segment from this growth, they still mainly occupied the low-end market and now striking hard to enter premium segment (i.e. Riich, Geely). Unfortunately i find their technology yet to catch up with the foreign makers.
So it is interesting to see how the local car makers buy off foreign carmaker (i.e. Volvo, Hummer, Saab) and transfer the technologies to their own vehicles as well as how the government could support them.
Afterall, it is a good job by the local carmakers, who has less than 20 years of car making history.
It good to the Chinese people and government receive their due reward for making everything else for us. There is nothing wrong with China Buying and Building the most vehicles. The US, Japan, and Germany did not and do not buy all they produce when they are the so-call top manufactures, no, they sold and sell to anyone who will buy them in any country around the world. To see that the people(may not all) have the means to purchase a vehicle is good sign that the “worker” are reaping what they sowed.