CHINA EXPECTED TO BECOME 3RD LARGEST AUTOMAKER
AsiaInfo Services, November, 2006
AsiaInfo Services 11-03-2006 China Expected to Become 3rd Largest Automaker BEIJING, Nov 03, 2006 (SinoCast via COMTEX) -- According to a survey by PricewaterhouseCoopers (PwC), China has been the world's fourth largest automaker after the US, Japan and Germany and is predicted to surpass Germany in 2006. The survey also indicates that China contributed 23% to the growth of the global automobile industry in 2005.
Chinese middle class with annual income of USD 7,400-14,800 each is the basic momentum for the growth. There are approximately 50 million middle-class people in China for the moment and is estimated to triple in 2010. While some mature auto markets worldwide continuing growing in the following four years, four emerging countries, including Brazil,...
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