ash
07-13-2009, 07:15 PM
this isnt new news but thought id post it since it was receent in Kazakhstan
While America has been the world's biggest auto market since the early 1900’s, it appears the future rise of China's middle class will change the statistics.
Given China's 1.3 billion-plus population, a fifth of the world's total, it is not surprising news that the Chinese auto market will grow exponentially over the next five to 10 years.
Last week, the China Association of Automobile Manufacturers said the country's passenger car sales jumped 47.7 per cent in June to 872,900.
China's rise to the top in numerical terms will have broad repercussions for the overall auto sector with small, low-cost and rugged cars dominating the Chinese market.
More of the vehicles will be developed in Europe and Asia, because the US auto industry does not have a history of small car development.
And, unlike America, China will have a vast pool of first vehicle buyers as more workers attain middle-class status.
While America has been the world's biggest auto market since the early 1900’s, it appears the future rise of China's middle class will change the statistics.
Given China's 1.3 billion-plus population, a fifth of the world's total, it is not surprising news that the Chinese auto market will grow exponentially over the next five to 10 years.
Last week, the China Association of Automobile Manufacturers said the country's passenger car sales jumped 47.7 per cent in June to 872,900.
China's rise to the top in numerical terms will have broad repercussions for the overall auto sector with small, low-cost and rugged cars dominating the Chinese market.
More of the vehicles will be developed in Europe and Asia, because the US auto industry does not have a history of small car development.
And, unlike America, China will have a vast pool of first vehicle buyers as more workers attain middle-class status.