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Overseas and domestic carmakers are showing off more than 900 models at the 13th Shanghai International Automobile Industry Exhibition.
First-quarter vehicle sales in China grew by 3.8 percent year-on-year to 2.68 million units, enabling the country to outstrip the U.S. as the world's biggest vehicle market, according to latest industry data.
The China Association of Automobile Manufacturers forecasts full-year vehicle sales to reach 10.2 million units, up almost 9 percent from last year.
With this booming market, every automaker is winning. Last week, Geely Automobile Holdings announced that its 2008 Net Profit Up 191%. On Monday, Hyundai Motor Co. raised its sales growth forecast for China this year to 36 percent from 22 percent as economic stimulus measures spur demand in the world's largest auto market. Brilliance Auto, parent of Brilliance China Automotive Holdings, aims for 10 percent growth in vehicle sales this year after an 18.6 percent increase in the first quarter from a year earlier, its chairman said on Monday. Even the domestically battered General Motors Corp expects its sales in China to grow 5 to 10 percent this year. |