Makers Turn to Hot Market to Ride Out Slump
2009-04-27 Source：internet
WHILE the global auto industry suffers from cold sales, it is a hot market in China.
Leading auto manufacturers are eager to show new models at the 13th Shanghai International Automobile Industry Exhibition as they turn to the world's second largest auto market to ride out the recession and dispel some of the gloom in their home markets.
After China launched stimulus measures, China's vehicle sales rose 5 percent in March to a record high of 1.10 million units, beating the United States as the biggest new car market for a third consecutive month.
Total vehicles sales are set to reach 10 million units this year from 9.7 million units estimated for the United States.
The exhibition, also known as Auto Shanghai 2009, begins today for the media at the Shanghai New International Expo Center in Pudong New Area and will open to the public from Wednesday. The show will end on April 28.
More than 1,500 auto and parts makers from 25 countries and regions will attend the biennial auto show this year with 13 cars making their global debuts.
"Many car makers list Auto Shanghai 2009 as one of their most important international A-class auto shows, if they may skip the other shows," said Wang Xia, an official with the organizer. "Despite the global financial crisis, this reflects the confidence toward China's auto industry as well as future market potential."
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