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 ...
Fairtax ping, please.
"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus
Send them the UAW.
Send ‘em Barack Obama.
No unions in China, also no govt health insurance etc.
China.
"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus
Even the commies understand that capitalism and tax cuts work to stimulate the economy.
Obama is intentionally destroying our nation.
* comment delete by user on the account the the racist bastard in chief isn't worth the co2 *
Pretty crappy reportage. Plenty of space to mention air pollution and fuel prices because of the influx, and cars designed with Feng Shui, but not a word about how American car makers are benefiting, if at all.
Exactly why any legislation regarding emissions, etc. without China is totally missing the point.
Note that this says “Market for cars”, not “builder of cars”
duh.. with over a billion people, who are starting to have money for the first time, of COURSE they are the biggest MARKET for cars. Most people here in the US already have one, over in China, they don’t. It’s a lot harder to sell a car to someone with a car, than someone who doesn’t have one. Of course, the market there will be larger.. they have 5 times as many people!!
And as bad as those freeways are (I know, I live half my life in Shanghai, and drive those roads regularly) they're STILL better than the freeways here in Seattle!
You could say the same thing about 1960's USA.
This is just one of many, many, many pieces of evidence that we are entering into a new era of greatly increased global competition. China, India and the other developing nations are at once a threat and a tremendous opportunity. Their rapidly expanding middle classes constitute a vast market for U.S produced goods - if we are aggressive enough and nimble enough to capitalize on the situation. That isn’t to say that there won’t be enormous challenges in doing so. Labor cost differentials are obviously an obstacle, as is our regulatory environment.
However, we also have to address the fact that we have a tax system which places foreign producers in a preferential position vs our own domestic producers, not only in foreign markets, but even here in our own domestic market - still the largest consumer market in the world.
This is just one of the reasons to pass the FairTax.
China restricts the sales of cars, by offering a set number of new license plates each year. And you bid on that license plate (usually around 45,000 and up - depending upon the license number - for a Shanghai plate). Demand is high across all of China as they get more and more money, and want better and better things.
Gas is about the same price as here in Seattle, too - typically I pay 4.7 RMB per liter, which works out to around $2.62 per gallon, on par with the $2.69 I paid yesterday at Costco, here in Seattle.
and cars designed with Feng Shui
Yeah, best to get a good VW or BMW or Mercedes. Some of the "design concepts" of the Chinese cars are a bit odd, to say the least!
not a word about how American car makers are benefiting, if at all.
Ford and GM make big profits in China, which offset the losses here in the US. both those brands are "luxury" brands in China; the Buick Lacrosse is considered on-par with Audis and 300-series Mercedes. Ford Fusions are THE small car to get, and they cost more in China than they do in the US, because they carry a US brand.
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