Chinese Auto Market Hitting the Skids?
For the last five years or more, GM PR has attempted to put a rosy glow on the latest sad stats from North American by saying, "Yeah, but we're kicking some serious ass in China!" From the beginning, TTAC has warned that A) the People's Republic will eventually game the market to favor 100% domestic carmakers B) GM is making the same branding mistakes in China that it's made elsewhere C) GM's Chinese growth has not kept pace with its rivals and D) what goes up, must come down. The New York Times reports that China's booming automotive market, indeed its whole economy, is entering the doldrums. "Demand is beginning to weaken for big-ticket purchases. J. D. Power and Associates just cut its forecast for car sales in China this year to 5.95 million — still up from 5.42 million last year, but much less of an increase than the company’s previous forecast of 6.2 million." And there are some interesting side-effects. "China’s slowing growth is one reason that gasoline prices have fallen in the United States, for example. Similarly, world prices for metals like copper, tin, zinc and aluminum have tumbled in the last several weeks, as voracious Chinese factories have closed, or cut back their consumption."
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Could decreasing gas prices and factory material use perhaps be related to the closing of factories and reduction of 50% of the automobiles on the road for the olympics? Are they going to bounce right back up after the games?
DaPope: That's the Chrysler Imperial concept from 2006.
monkeyboy : Correct--the Buick Reno is the daewoo hatchback we get in the form of the Suzuki of the same name.