BIZCHINA> Auto China 2006
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BIZCHINA> Auto China 2006
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Beijing auto show closes with record turnout
(Xinhua)
Updated: 2006-11-28 10:45 After years of dynamic growth, China is the world's second largest auto market after the United States.
Both its production and sales of automobiles are expected to surpass seven million this year, according to the latest estimate of the China Association of Automobile Manufacturers. Though that is still less than half of the 16.5 million cars expected to be sold in the United States, China could overtake the U.S. as the world's largest carmaker in 10 years, Nick Reilly, General Motors Asia and Pacific head, told a Detroit newspaper. CHINESE BRANDS STEALS THE SHOW This year's Beijing auto show also saw an impressive turnout of home-grown brands, a reflection of their growing strength in the fast expanding auto market. According to the organizers, Chinese brands accounted for one third of the vehicles on show, the most in the history of the event. FAW, which produced China's first truck and car in the 1950s, brought 29 vehicles, including 19 of its joint venture brand partners such as Volkswagen and Toyota, and 10 of its own. (For more biz stories, please visit Industries)
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