used vehicles
Will Chinese Car Replace Japanese Car?
Japanese cars holds a greatest share in the market of automobiles as it has been declared as the best car makers by Japanese used cars exporters. There are various other competitors in the market but Japan still managed to maintain its position until the automobiles of China entered into the market. These cars are giving a quite tough time to the Japanese car makers and it is also expected by Japanese used cars exporters that China will obtain half of the world’s new car industry with the end of the ongoing decade.
The world’s largely populated country claims itself to be the largest car market worldwide. The country also holds a new-car sales record of 18.06 million units in the previous year. Moreover, it is predicted by the officials and manufacturers of the country that this figure will raise to an estimate of 40 million by the year 2020.
The biggest supplier of tyre to the country, Hankook says that by the year 2020 one of every two cars will be manufactured from China. It was also reported that from the year 2009, the automobile market of China has marked a remarkable 50 percent growth in addition to the 34 percent growth from the last year.
The local automobile makers such as Shanghai Automotive Industry Corporation (SAIC) has predicted that the sales of only passenger cars will reach the point of 20 million annually manufacturing units after the year 2015 which will reach 30 million after 2020. The sales of both the passenger cars and SUV’s has accounted for 13.7 million last year.
Adding in the competitiveness of China car manufacturing industry, the presence of China automobile makers in the Shanghai motor show has proved out truly as to how important the market has turned out to be for every global player.
Mr. Lee of Hankook Company reported some impressive growth in the country as the market share of the company stands at 20 percent making the Volkswagen as the topmost foreign car brand in China.
The tyre company of Korea predicted an estimate of 200 million vehicles that will get registered to be manufactured in China till 2020.