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Friday, March 14, 2008

China: All Set to Take On The U.S. to Become the World’s #1 Automobile Market

There have been many speculations that China is going to overtake the U.S. and become the world’s number one producer of automobiles in the next couple of years. It’s not surprising considering the fact that China is home to almost a quarter of the world’s population. This steady growth in population has prompted large companies to delve into the automotive business, and the existing automakers to increase their already impressive output.

This was very evident during the recent 2008 North American International Auto Show in Detroit where there was, surprisingly, five contingents of Chinese companies, namely the BYD (Build Your Dreams) Company, Geely, Changfeng, Chamfeng (Chamco in the U.S.) and Zhongxing. While the quality of the models these companies brought to the auto-show were not as outstanding as the others, the fact that they were able to come up with fairly acceptable modern vehicles is impressive in itself. And what’s more impressive is that they are still in the learning stage. By learning, I don’t mean they’re new to the auto-making industry; I mean they are just adapting to the U.S. style/way of building cars. What more if they become adept at this field?

Anyway, the models the Chinese contingent brought were fully-functional, not like some of the other models that were brought only for show. Representatives of some of the companies even announced the release date of these models, as well as the estimated price tag. And get this, most of them are so cost-effective that the price tag trims down as much as 20% of the price tag of its competitors. That’s not bad. They’re up to the times, fairly stylish, fully functional and they’re more economical than cars in the same category/ies as them. If it’s an average-looking car you’re in need of, it won’t hurt if you get one that’s made in China, instead of a typical overpriced U.S. car.

Reference: Straight.com