China To Sell 20m Cars In 2015
Yesterday, China’s auto production officially exceeded the 10m mark. You’ve seen nothing yet, opined Dongfeng Motor Co. vice president Ren Yong at the sidelines of the Tokyo Motor Show (which had been mostly shunned by foreign makers.) Peak oil theorists, take a Valium before reading further.+
China’s annual auto sales will likely reach 20 million units by 2015, Dongfeng’s VP reckons, as demand will be growing with rising family income.
Auto sales in China are projected to reach 13m units this year. The fourth quarter is likely to see even bigger increases than the sales explosions of the previous months, as the imminent end of a policy that halved the sales tax on mini cars will herd the last of the undecided into the showrooms.
For the first nine months, total sales rose 34 percent to 9.7 million, with passenger-vehicle sales up 42 percent to 7.2m units.
Beginning in January 2009, China eclipsed the USA as the world’s largest auto market. Even if Ren Yong is too optimistic, the ranking will not change anytime soon. The tracking firm CSM Worldwide sees U.S. auto sales at 11.8m units by the end of 2010, about a million shy of China’s current year number. US light vehicle sales had never seen 20m, and most likely won’t ever.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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