JAPANESE CARMAKERS SHAKE VOLKSWAGEN & GM DOMINANCE IN CHINA
AsiaInfo Services, December, 2007
AsiaInfo Services 12-26-2007 Japanese Carmakers Shake Volkswagen & GM Dominance in China GUANGZHOU, Dec 26, 2007 (SinoCast via COMTEX) -- The dominance of German carmaker Volkswagen and US carmaker General Motors in the Chinese market is being weakened by the swift expansion of Japanese peers like Toyota Motors and Honda Motor. China sees an over-20% annual increase in automobile market between 2003 and 2007, with an over 24% rise for 2007, or total sales of 9.5 million cars.
It beat Japan as the second largest car market in the world in 2006 with sales of over 8 million cars. The substantial market, which was represented by Shanghai Volkswagen Automotive, then Shanghai General Motors and now FAW-Volkswagen Automotive, is nearly dominated by the ventures...
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