The Wall Street Journal quoted Zhang Xiaoyu, vice president of the China Machinery Industry Federation, as saying that China had produced a total of 5.1 million cars last year. This figure is expected to increase by 20% to 6 million this year, possibly exceeding Germany and becoming the third largest in the world. Big car producer.
As incomes continue to increase, millions of Chinese have begun to realize their dream of owning automobiles. China has also become the fastest growing automobile market in the world. Foreign automakers are currently investing billions of dollars to expand production in China to meet growing demand.
Germany’s car production in 2004 was 5.5 million, making it the world’s third-largest automobile producer after the United States and Japan. China's car sales in 2004 increased by 15%, which is lower than the increase in the previous year, because the Chinese government allows more car imports, and customers are holding money to wait for price cuts.
Zhang Xiaokai believes that the price of cars has fallen to a relatively low level, so sales this year should increase. The report quoted Zhang Xiaoyu as saying that the potential of the market was postponed. However, this does not mean that there is a lack of market demand.
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