Automotive News - May 14, 2007
Last year, China eclipsed Japan as the world's second largest automotive market, including commercial vehicles. By the end of the decade, China could pass the United States.
Like a small planet, China is exerting its gravity on global automakers and major suppliers. With growth stagnant in mature markets such as Japan, the United States and Europe, China's booming economy is irresistible.
Volkswagen AG and General Motors are the top global automakers in China, but Toyota Motor Corp. is gaining on them quickly.
Meanwhile, Chinese automakers are swiftly gaining expertise. They are launching their own brands
China is determined to join the world's major industrial nations. The auto industry will help it get there.