|
China, which excels the US and Europe in terms of auto production and sales, serves the world’s largest auto plant, with its production and sales reaching 19.27 million and 14.91 million units, respectively, last year.
This means carmakers that will have an upper hand in China will dominate the global market. China comprised 20 percent of
Hyundai Motor and Kia Motors’s global sales last year.
The two big auto giants in China, Volkswagen and GM, have accelerated their efforts to expand their dominant positions in China with the release of a series of additional investment plans. Hyundai and Kia, which are on the brink of breaking through seven million units of cumulative sales, a feat achieved in a decade after its entry into China, are fervently working to be ahead in the race.
Volkswagen, GM and Hyundai/Kia Motors have entered fierce competition with the establishment of auto plants even in each other’s turf.
Auto sales(passenger cars) in China grew a startling 18 percent year-on-year to 4.84 million units during the January-April period of this year, according to the China Association of Automobile Manufacturers(CAAM). GM, which tops the list in terms of vehicles sold in China, plans to double its production to five million units with the creation of four more plants by 2015. It is due to invest $11.0 billion, equivalent to 12 trillion won. Volkswagen, which outperforms GM in terms of passenger car sales, is poised to build an auto plant with an annual capacity of 20,000 units in Xinjiang Province. Its new plants will also be established in Ningbo (300,000units) and Shanghai(150,000 units) next year.
Hyundai Motor is set to construct its fourth plant with a capacity of 300,000 units per annum in the western China.
|
Other Articles
