Top auto brands go on show, auto booming in China

Home>>Business

Last updated at: (Beijing Time) Wednesday, November 26, 2003

Top auto brands go on show, auto booming in China

Domestic and foreign automakers are expecting the inaugural China (Guangzhou) International Automobile Exhibition to be a shot in the arm for the reputation of their brands in the nation's south.

DISCUSSION

CHINESE

SEND TO FRIEND

Domestic and foreign automakers are expecting the inaugural China (Guangzhou) International Automobile Exhibition to be a shot in the arm for the reputation of their brands in the nation's south.

Displaying stunning cars with equally stunning models, they have their sights set on another batch of sales, particularly in the Pearl River Delta region in Guangdong Province.

The exhibition, which opened yesterday and is set to run through until Tuesday, has attracted most of the major carmakers from home and abroad.

International brands like Nissan, Honda, Mitsubishi, Mazda, Hyundai, Audi, General Motors, Citroen, Peugeot and Volkswagen are represented, along with leading domestic suppliers like the First Automobile Works Group, Shanghai Automobile Group, Guangzhou Automobile Group, Chang'an Group and Dongfeng Automobile Group. Luxury brands like Bentley, Rolls-Royce, Ferrari, Porsche and Hummer are also taking part.

An Audi representative said it is on hand to gain greater popularity and further enhance its reputation, with a special emphasis on Guangdong Province.

Sources said the province has long possessed the largest number of private vehicles among all others, and sales in the Pearl River Delta alone generally account for one-third of the nation's annual total. Last year, China's car sales surged 56 per cent from 2001 to 1.13 million units.

But despite the importance of sales to manufacturers, the exhibition is aiming to establish a promotional platform for groups to show off their research and development capabilities while setting up a forum for the unveiling of new product information and the display of concept cars.

China's auto industry is undergoing a period of booming development, and the total output this year is expected exceed 4 million sets.

The Chinese government is expected to promulgate a new policy for the development of the industry next month, Zhang said at an automotive industry forum.

China's auto industry started in 1953, when the state-owned automaker First Automotive Works was set up. So far, the enterprises involving foreign capital have invested more than 30 million US dollars in the industry, and foreign and private investment accounts for over 50 percent of the total capital of the sector.

During the past decade, China's annual gross domestic product grew by 9.3 percent on average, and the growth rate of the auto industry was 15 percent.

According to the government's blueprint, the national economy should double over the next ten years, which means an average annual growth of 7 percent. So the auto industry will keep an annual growth rate of 5 percent to 10 percent, and the output of automobiles is predicted to hit 8 million vehicles in 2010.

By People's Daily Online

Questions?Comments? Click here

China's automobile sales 'will rise by a quarter next year'

China to issue new policy on auto industry

China to import more cars, auto parts from US

Trade move by US government is 'poll ploy': Opinion ( 9 Messages)

Bush's UK visit fails to meet his wishes: Commentary ( 5 Messages)

The cause of China-US trade disputes ( 18 Messages)

Internet changes life in China: News focus ( 17 Messages)

Why China's first textbook on sex not used? ( 7 Messages)

US should be straight on 'one-China' policy ( 34 Messages)