China on Track to Become World's Largest Car Manufacturer
A thing worth mentioning is that China pretty much relies on its domestic market, with only a few models being actually delivered to export markets. Nevertheless, thanks to the increased coverage of Chinese automakers such as Chery and Shanghai Autos, China is continuously seeking for new limits, so more exports are expected this year as well.
China expects a decline of 6.5 percent in new car production this year but, compared to the overall forecasts, the country actually follows a steady trend. The aforementioned source says the global car markets is expected fell by more than 20 percent in 2009 which underlines once again China's ability to remain among the top manufacturers.
The first sign that China adopted an ascending trend is Chery's alegged bid for Swedish struggling automaker Volvo, despite the difficult market conditions the company currently encounters. Chery admitted it wants Volvo but insisted it won't compete with other bidders to acquire Ford's Swedish unit.
"We may consider a takeover if no one- no other Chinese automakers- are interested. We won't fight for it," Yin Tongyao, Chery chairman, said in mid-March.