17 Apr '11, 11pm

China showcases global muscle at Shanghai auto show

China showcases global muscle at Shanghai auto show

SHANGHAI : The world's top car makers head to China this week for the Shanghai Auto Show, where they hope to cash in as the sector reels from last month's earthquake and tsunami in Japan. After two years of booming sales, the growth in China's auto market -- which in 2009 overtook that of the United States to become the world's largest -- tapered off to eight percent year-on-year in the first quarter of 2011. That slowdown -- which still meant the sale of 4.98 million units -- comes as Beijing winds back stimulus measures put in place to combat the global financial crisis and curbs the number of licence plates issued in the capital. But analysts remain bullish about the market's prospects, as the number of car owners is still relatively small compared with the country's massive population of more than 1.3 billion. "The centre of gravity for activity is clearly moving towar...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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China showcases global muscle at auto show

China showcases global muscle at auto show

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