Yellow Peril Seriously Imperiled
If you ask Western auto manufacturers what they fear more, Chinese car exports or the antichrist, hell, they’ll definitely pick Chinese car exports. Should have chosen the devil: China is looking back at one of the worst car exporting years in recent history.
In the first 11 months of last year, China’s total auto exports dropped 49 percent to a mere 325,800 vehicles, reports Shanghai Daily, based on data provided by the China Association of Automobile Manufacturers CAAM.
China exports only some 2 percent of its production. Surprisingly to some, China imports more cars than it exports. 359,100 units were imported in the first 11 months of 2009, a slight decrease of 4.36 percent in unit sales, but a whopping increase of 73.43 percent in value, as rich Chinese indulge in their lust for luxury.
The export numbers could have been worse. They were saved from eternal damnation by the month of November. In November 2009, Chinese car exports posted their first year-on-year increase in 15 months. China exported 40,600 vehicles in November, up 13.4 percent from a year earlier, for what it’s worth.
Something I've learned from history: Anytime you write off an entity as not being worth worrying about, you're invariably wrong - eventually. I see the Chinese as players in the American car market. The only questions are when, and how long from now? I've already got my convictions parked in the garage: A Jinan Qingqi 150cc scooter that's been my main transportation for the work commute for the past two years. 10,000km on it, and the problems have been minor (one handlebar switch gone back, one snapped bolt, non-critical). My original plans were to keep the Qingqi for three years, then replace with a Honda, assuming I liked commuting on a scooter better than a motorcycle. I'm seriously considering replacing the Qingqi with another next year.
For a minute there... I thought they were importing Jeep Comanches... http://en.wikipedia.org/wiki/Jeep_Comanche
I am properly indoctrinated with the politically correct ideologies and view white bread as racist and its separate area on the grocery store shelf as segregation. Keep that dark-colored rye bread far away.
Right now China's domestic market is expanding so fast that it is soaking up all their production. That won't continue forever. Then look out.