The production and sales of Chinese passenger vehicles both more than doubled from a year earlier. This causes China's auto market to lead the world industry. It's also the first time the domestic monthly production and sales were over 1 million units.
Rao claims this is strong evidence of the popularity of the auto market, despite the high oil prices and bad weather conditions lately which had an impact on the sales. He also predicts that sales will keep increasing in December and the sales peak will be in january.
It will be the first time in any country's auto industry that the montly sales continued to break records for seven months in a year. The total vehicles sales in China exceeded 12 million in the first months, which is enough to get the lead as the world's biggest auto market, reported Xinhua News Agency, citing the China Association of Automobile Manufacturers.
I think this is one of the many examples we can find to prove that China is an enormous economy that will only keep growing in the future. It will take over more and more market share of the world economy because of their improving technology, low labour costs, ... . Their turnover of vehicles for example in western countries is rather low at the moment, but I think they will keep improving their products and will conquer a bigger place in the world's technology economy in the near future.
Tom Bogaert
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