China Auto Market Attracts World Eyes
2009-05-06 Source：english.chinabuses.com
Despite gloomy international sales, whether in Western countries or emerging economies, the still-robust Chinese auto market currently offers the brightest prospects for global automobile manufacturers to offset their losses at home.
China has been the first to show improvement from the devastating industry downturn that began in second half of last year as it benefits from a series of government incentives to boost auto consumption. "China might be the automobile market with the most potential in these hard times. The government's stimulus policies are starting to take effect." said Hui Yumei, an analyst with automobile industry research company Sinotrust.
The view is backed by Zhong Shi, an independent auto analyst based in Shanghai, who said "tax cuts and rebates for small car purchases lured buyers back to showrooms and relit consumption enthusiasm". The stimulus package was felt in the first quarter, when domestic sales surpassed the waning US market for three months in a row, giving China the temporary title of top auto market in the world.
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