Saturday, March 06, 2004

VW Jetta best-selling car in China last year

I was reading the BNA International Trade Reporter (in print) from February 12, 2004 and they have some interesting facts about China's burgeoning car market. China's auto product rose 80% last year to 2 million cars. Chinese car sales rose 90% last year. China imported $5 billion worth of cars last year, as well. China is the world's fourth largest auto market currently.

Selected Quote:
The glut of vehicles has also created problems typical to well-developed economies, like air pollution and gridlock on roadways.

The traffic situation in cities like Beijing, which still has underdeveloped subways and roads given its population, are becoming as bad as a metropolis like Bangkok at times.

And China's roads are becoming notoriously fatal.

In the first nine months of [2003], there were more than a half million traffic accidents claiming some 75,700 lives, the State Administration of Production reported.

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