USA is now the 2nd largest new car market after China
02-04-2009, 08:57 AM
#1
Registered User
Thread Starter
Join Date: Jan 2000
Location: Albany, NY
Posts: 10,287
USA is now the 2nd largest new car market after China
http://www.iht.com/articles/ap/2009/...Auto-Sales.php
Two years ago, China zoomed past Japan to become the world's No. 2 vehicle market.
Now it looks poised to pass up the United States to be the biggest.
While car sales in China have slowed lately, they haven't plummeted like those in the U.S., where January sales tumbled 37 percent from a year ago to 656,976 vehicles, a 26-year low.
Official Chinese auto data comes out next week, but January sales are expected to decline 8 percent to 790,000 units, Zhang Xin, an analyst at Guotai Junan Securities in Beijing, said Wednesday.
"This is the first time in history that China has passed the United States in monthly sales," Mike DiGiovanni, General Motors Corp.'s executive director of global market and industry analysis, said in a conference call late Tuesday.
DiGiovanni projects that Chinese auto sales could hit 10.7 million vehicles in 2009, more than his estimate of 9.8 million unit sales in the U.S. this year. Autodata Corp. forecasts 2009 U.S. sales at 9.57 million.
Now it looks poised to pass up the United States to be the biggest.
While car sales in China have slowed lately, they haven't plummeted like those in the U.S., where January sales tumbled 37 percent from a year ago to 656,976 vehicles, a 26-year low.
Official Chinese auto data comes out next week, but January sales are expected to decline 8 percent to 790,000 units, Zhang Xin, an analyst at Guotai Junan Securities in Beijing, said Wednesday.
"This is the first time in history that China has passed the United States in monthly sales," Mike DiGiovanni, General Motors Corp.'s executive director of global market and industry analysis, said in a conference call late Tuesday.
DiGiovanni projects that Chinese auto sales could hit 10.7 million vehicles in 2009, more than his estimate of 9.8 million unit sales in the U.S. this year. Autodata Corp. forecasts 2009 U.S. sales at 9.57 million.
02-04-2009, 11:19 PM
#6
Registered User
Join Date: Apr 2000
Location: New England
Posts: 3,749
02-05-2009, 04:32 AM
#7
Registered User
Join Date: Jan 2009
Posts: 429
Really? And just how many cars do you think that we could sell to the Chinese when they have a per capita income of about $2500 and the car you're selling them was made by employees who earn $55k a year a piece?
02-05-2009, 07:00 AM
#8
Registered User
Thread Starter
Join Date: Jan 2000
Location: Albany, NY
Posts: 10,287
Once they stop pegging the Yuan to the Dollar that should help us too. Yaun is artificially low and the dollar is artificially high.
02-05-2009, 05:12 PM
#9
Registered User
Join Date: Nov 2001
Location: OSHAWA
Posts: 254
Hell, I know Chinese students that have parents who work for banks or manufacturing facilities that are getting their education in Canada and drive around in brand new BMWs or Mercedes and paid cash for the car!!!!!!!!!!
They think that paying $50,000/60,000 is a bargain for these cars since they'd cost much more if they had been aquired in their country.
I think you're thinking about the China from 10+ years ago my friend.
02-05-2009, 05:19 PM
#10
Registered User
Join Date: Nov 2001
Location: OSHAWA
Posts: 254
Besides if Labour amounts to 5-7% of the cost of a vehicle (as per GM's own studies), even if the UAW agreed to work for minimum wage, it would lower the price of the car only a few hundred dollars on an average midsized car.
02-05-2009, 09:26 PM
#11
Registered User
Join Date: Aug 1999
Location: Cincinnati, OH
Posts: 2,612
There are hundreds of millions of Chinese people who would do just about anything to make $30k a year. They have an upper class like just about every country in the world, but their lower class is significantly lower than ours.
02-06-2009, 04:20 AM
#12
Registered User
Join Date: Mar 2001
Location: The Golden State
Posts: 13,711
Why bring the salary of an autoworker into this? Doesn't GM make Escalades in Mexico for $2.50 per hour and sell them for 70 grands??
Besides if Labour amounts to 5-7% of the cost of a vehicle (as per GM's own studies), even if the UAW agreed to work for minimum wage, it would lower the price of the car only a few hundred dollars on an average midsized car.
Besides if Labour amounts to 5-7% of the cost of a vehicle (as per GM's own studies), even if the UAW agreed to work for minimum wage, it would lower the price of the car only a few hundred dollars on an average midsized car.
You are a very wise man as someone would say.
02-06-2009, 05:36 AM
#13
Registered User
Join Date: Jan 2009
Posts: 429
You're kidding right?? Have you seen all the premium cars being purchased in China as of late? Granted they don't have much of a middle class..."yet" but there are tons of people that make more money than you and I that could easily afford anything we can produce.
Hell, I know Chinese students that have parents who work for banks or manufacturing facilities that are getting their education in Canada and drive around in brand new BMWs or Mercedes and paid cash for the car!!!!!!!!!!
They think that paying $50,000/60,000 is a bargain for these cars since they'd cost much more if they had been aquired in their country.
I think you're thinking about the China from 10+ years ago my friend.
Hell, I know Chinese students that have parents who work for banks or manufacturing facilities that are getting their education in Canada and drive around in brand new BMWs or Mercedes and paid cash for the car!!!!!!!!!!
They think that paying $50,000/60,000 is a bargain for these cars since they'd cost much more if they had been aquired in their country.
I think you're thinking about the China from 10+ years ago my friend.
Statistics > anecdotes
Thread
Thread Starter
Forum
Replies
Last Post
chevroletfreak
LT1 Based Engine Tech
202
07-04-2005 05:00 PM
DrMilhouse
Car Audio and Electronics
3
10-02-2002 05:03 PM
CamaroZBoy
Car Audio and Electronics
0
09-01-2002 09:48 AM