Tuesday, October 20, 2009

Chinese Auto Production Tops 10 Million Units For 2009

China's automobile production continues to surpass the United States and grow. To date, China has produced 10 million automobiles so far this year, making it the third largest auto producer behind the EU and Japan. The United States trails far back at #4 with a rapidly declining auto industry. In 2000, the U.S. produced nearly 12.8 million automobiles. However, by 2008 that number sharply declined to just over 8.7 million units. So far U.S. production is again down sharply. By contrast, the Chinese market has expanded from just over 2 million units in 2000 to over 10 million this year. Within five years or less, China will be the largest auto producer in the world.

Most of the Chinese produced automobiles are for domestic use, compared to many units produced in the United States, Japan, Korea or the EU for export. The strength of the growing Chinese economy is a testament to the growing demand for Chinese produced automobiles, although some American produced automobiles such as Buick are viewed as a real symbol of affluence among Chinese businessmen.

If anything the five-fold growth of the Chinese automobile industry since just 2000 despite the global recession is a strong statement that despite being a Communist state, the Communist leadership of China are also the world's best capitalists as well. As much as a paradox as this seems, the United States which which was once the leading industrial and capitalist state power is in the throes of a sharp industrial decline by decline, beyond any conditions that can be attributed to the global recession.

Some years ago, who would have ever believed such a thing to be true.


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