Source: CCTV.com

11-20-2008 11:32

At the 6th China International Automobile Exhibition, held in Guangzhou, major international carmakers are showing off their latest models. While demand from the US, the world's biggest auto market, is sluggish, the carmakers are hoping the fast-growing Chinese market can help them get through the hard times.

Cruze -- One of new models launched by Shanghai GM 
Cruze -- One of new models launched by Shanghai GM 

At the show, Shanghai General Motors has brought 24 cars, which include three new models. Shanghai GM says its attendance with three new models shows its confidence in the Chinese market during this global financial crisis.

Sun Xiaodong, Vice GM of Shanghai GM said "Our capital on inventories has been reduced by 22 percent. And GM will not cut its investment in China, instead, we will increase it in the future. From 2009 to 2011, GM will put over 20 new models on the three major car markets including China. While the production lines of Shanghai GM will change dramatically to focus on GM's global platform."

Meanwhile, in the face of weak demand both in the domestic market in Japan and the North American market, Nissan chose to launch its new SUV model at the Guangzhou Car Expo. It plans to sell 800 thousand vehicles in China by 2012, about the same as its expectations for the US market. By then, China will be Nissan's most important market.

Yasuaki Hashimoto, Managing Director of Nissan China said "Despite the global financial crisis, our annual goals for the Chinese market have already been achieved. We are very confident about the market."

As the leading European carmaker, Mercedez Benz has sold very well in China this year. It sold more than 12-thousand cars by the end of October, up 50 percent year-on-year. At the expo, Mercedez has launched its latest model even before launching it in the US.

According to figures from the China Association of Automobile Manufacturers, nearly 540 thousand passenger vehicles were sold in China in October, up 8.7 percent year-on-year. And the total sales volume for the year may exceed 9 million.

 

Editor:Xiong Qu