China Sizzles as U.S. Fizzles
While there's not much joy in Motown, new car sales are hopping in The People's Republic of China. Chinadaily reports new car sales are up 22.83 percent this year, for a total of 5.66m units year-to-date (YTD). Sedans are the biggest seller, with 4.24m units sold so far this year. MPVs accounted for 203k sales, while SUVs clocked-in at 319k units. The best-selling models are the Jetta (FAW-Volkswagen), Santana (Shanghai Volkswagen), Buick Excelle (Shanghai General Motors), Camry (Guangzhou Honda), QQ (Chery) and Xiali (FAW Tianjin). For comparison, the U.S. car industry racked-up 7.2m cars and 7.5m light trucks YTD. That said, U.S. "light trucks" include MPVs and SUVs, which are counted as passenger cars in China. The rest of the vehicles sold as light trucks in the U.S. are sold predominately for commercial purposes in China, and aren't included in "new car" sales numbers. So now you know.
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I predict that Wal-Mart will be selling cars within 5 years...
I hope not. That'll mean a disorderly array of cars parked on their side with a gazillion price tags and you'll have to wind your way through an acre lot to find the service desk. Steven, I expect China to migrate from low cost manufacturing to more design as well but not as quickly as you do.
Sorry didn't check out the link. I like the Chinese Camry 100 times more than that ugly cow looking thing they sell here. Unfortunately I think Steven is right maybe not so quickly but it's coming. And their tastes will start to dictate designs around the world as they become the biggest market.
shaker : December 11th, 2007 at 12:52 pm I predict that Wal-Mart will be selling cars within 5 years… They already do. At least in Argentina... last time I was there (a province called Santa Fe about 300 miles north of Buenos Aires) there was a Walmart that sold Peugeots, Renaults, VWs and Fiats. Gave me a chill that in a small town the only thing there was a Walmart...