China drives sales for global majors

• Source: xinhua
• [09:09 April 21 2009]
• Comments

Concept car of Audi is displayed at the Shanghai auto expo in Shanghai, east China.(Xinhuanet Photo)

Visitors walk around at the Shanghai auto expo in Shanghai, east China, April 20, 2009. (Xinhua/Pei Xin)

Earlier this month, GM announced plans to double its China sales to more than 2 million units in the next five years from last year's figure. It is displaying 37 models at the motor show, including one making its global premiere and five making their Asian debuts.

Katsuaki Watanabe, global president of Toyota Motor Corp, said China's economy and the auto industry are continuing to grow steadily amid a global downturn.

"This should be attributed to China's sound economic fundamentals and the government's stimulus policies," Watanabe said.

China's GDP grew 6.1 percent in the first quarter of this year, the slowest quarterly pace since 1992. However, analysts said the country's economy has hit the bottom and will start to rebound in the second quarter as a result of the government's pro-active measures.

Andy Palmer, senior vice-president of Nissan Motor Co, on Monday told reporters that the Japanese carmaker plans to launch 10 passenger car models and five light commercial vehicles in China before 2012.

The company's sales in China are expected to grow 5 percent year on year to 570,000 vehicles this year, Palmer said.

(China Daily)