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March 8, 2021
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CHINA-AUTO SALES
(2007-01-11)
(wgvu) - CHINA HAS SURGED PAST JAPAN TO BECOME THE WORLD'S
NUMBER TWO VEHICLE MARKET, SECOND TO THE UNITED STATES.
THE CHINESE AUTO INDUSTRY ASSOCIATION SAYS CAR PURCHASES BY
NEWLY AFFLUENT DRIVERS JUMPED 37 PERCENT.
THE ANNOUNCEMENT HIGHLIGHTS CHINA'S EVOLUTION FROM A "BICYCLE
KINGDOM" INTO A MAJOR AUTO MARKET.
FOREIGN PRODUCERS ARE RACING TO OPEN FACTORIES AND TARGET A
GROWING CHINESE MIDDLE CLASS.
ANCIENT CHINESE CITY CENTERS ARE BEING BULLDOZED TO MAKE WAY FOR
BROAD AVENUES. THE GOVERNMENT IS BUILDING A NATIONWIDE HIGHWAY
NETWORK.
STRUGGLING U-S AUTOMAKERS GENERAL MOTORS AND FORD HAVE GOTTEN A
BOOST FROM DOUBLE-DIGIT SALES GROWTH IN CHINA.
CHINA'S OVERALL VEHICLE SALES ROSE 25 PERCENT LAST YEAR.
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