Posted on 12/11/2009 8:59:32 AM PST by phil_will1
SHANGHAI China has overtaken the U.S. as the world's biggest market for automobiles, the first time any other country has bought more vehicles than the nation that produced Henry Ford, the Cadillac and the minivan.
Now that the Chinese buy more cars and trucks than Americans, the shift could produce ripples for the environment, gas prices and even the kinds of cars automakers design.
More than 12.7 million cars and trucks will be sold in China this year, up 44 percent from the previous year and surpassing the 10.3 million forecast in the U.S., according to J.D. Power and Associates.
China has long been expected to overtake the U.S. since its population of 1.3 billion is more than quadruple that of the United States. But the increase in sales happened much faster than anyone expected because of China's tax cuts, its stimulus program and a depressed American market.
Two years ago, J.D. Power predicted China would pass the U.S. in 2025. Earlier this year, it forecast 2009 sales of just 9 million vehicles for China.
(Excerpt) Read more at google.com ...
“You could say the same thing about 1960’s USA.”
Good point. In spite of two world wars, the Great Depression, several other less severe economic downturns and smaller wars, the US economy grew by something like 18 fold during the 20th century. Some students of China believe that they are poised for similar growth during this century.
'Bout dang time somebody answered my real question.
:^)
My company needs Ford and GM cars to sell. There is much pain hereabouts, and I'd like to see better times.
When I was looking for a car in China, I ended up buying a 4 year old Audi A6 - it was actually cheaper than a 6 year old Buick Lacrosse! The Chinese love the US brands; me, I know what Buicks REALLY are and prefer the Audi (actually, I almost got a VW Passat - same basic car - but got a screaming deal on a low miles, foreign owned A6).
China will consume every car we can make; the Ford dealers in Shanghai are typically 8-10 weeks out on delivery. Can’t keep up with demand.
Well, since a grand total of 12 new cars were sold in '09, it was more a function of us passing them than the other way around.
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