Chinese communist leaders must be rubbing their hands and grinning villain style right now as government controlled news agency Xinhua via gasgoo.com reported today that China overtook Germany and the US in car production. In other words, the People Republic of China, PRC for friends, manufactured in 2008 the highest number of automobiles.
It doesn't look like propaganda either as the figures were made public by the German association of car manufacturers. According to their estimates, China dominates the world with a market share of 17.2%, thus outranking Germany with 14.7% and the US with 14.6%. Even so, the Chinese don't seem too happy about it as they say 2008 recorded the slowest growth in recent years, just 6%. You could almost imagine the Americans going “You goddamn Chinese!”.
Things look even worse for the 'mericans as in terms of profit, the US carmakers recorded a major 10% drop, while the Chinese triumphantly boast a whopping 30% increase. The Germans manufacturers recorded a safe albeit pale increase of 8%.
There's still light at the end of the tunnel for Abraham Lincoln's followers as General Motors will most likely benefit from the Chinese booming car industry. The company predicts a 5 to 10 percent increase on the market. At least that's what GM China CEO Kevin Wale said on Monday.
March was a great month for the Chinese as they sold a record of 1.11 million units. This achievement was possible thanks to the recent incentives from the Chinese government who is also subsidizing the purchase of alternative energy vehicles.