Arab Today, arab today chinas biggest auto show opens
Last Updated : GMT 23:01:58
Arab Today, arab today
Arab Today, arab today

Amid growth slowdown

China's biggest auto show opens

Arab Today, arab today

Arab Today, arab today China's biggest auto show opens

Shanghai International Automobile Industry Exhibition
Shanghai - Arab Today

Global car makers showed off hundreds of vehicles in China's commercial hub Shanghai on Monday, as the world's biggest auto market continues to attract despite a sharp deceleration in sales growth.

At China's premier auto show, foreign car makers admitted an economic slowdown in the world's second largest economy had taken its toll, but said the market was simply too big -- and important -- to ignore.

China's economy expanded 7.4 percent last year, the slowest in nearly a quarter of a century.

"The market will increase less than in former years, but still much higher than in any other relevant automotive market in the world," President and CEO of Volkswagen Group China, Jochem Heizmann, told reporters on the eve of the show.

"It's still a tremendous market," he said.

Vehicle sales in China reached 23.49 million last year, well ahead of the United States, which it overtook in 2009.

But annual sales growth halved to 6.9 percent last year from 13.9 percent in 2013, according to the China Association of Automobile Manufacturers (CAAM).

The slowdown continued in the first three months of this year, when sales rose just 3.9 percent.

At the show, a rumoured ban on scantily clad models appeared to be in effect, as car makers used demurely dressed attendants and dance shows to draw attention to their stands at a sprawling new venue.

Among the bright spots in China is the market for SUVs (sport utility vehicles), one of the country's fastest growing segments.

"By 2018, China is expected to be the biggest market in the world for SUVs," John Lawler, Chairman and CEO of Ford Motor China, told a news conference on Monday.

- Crackdown -

Ford is introducing seven new vehicles in Shanghai, including two SUVs and the Taurus, intended to be its flagship sedan for the China market.

But the "premier" car segment -- which sells for $33,000 to $197,000 -- and the even more pricey luxury market have been slammed by the economic slowdown as well as a more than two-year campaign to crack down on corruption and government waste.

"There's an impact from a cultural standpoint about showing off your wealth in China right now," said Luca de Meo, member of the board of management for sales and marketing at Germany's Audi.

"It could have an impact on the automotive business and we're seeing it already in the high-end segment. There are less goverment-related purchases as well," he told AFP.

Supported by Chinese government backing, auto makers are making a renewed push for new energy vehicles, displaying the latest fully-electric models and hybrids at the show.

Volkwagen announced plans to locally produce more than 15 new energy vehicles in China in the next four years, while General Motors will launch a plug-in hybrid version of its Cadillac brand CT6 sedan.

But the Chinese market for electric cars remains small with consumers reluctant owing to perceived problems with reliability and access to charging facilities.

Electric and hybrid vehicle sales in the country reached 26,581 in the first quarter of this year, three times the same period in 2014 but still accounting for less than one percent of total sales, according to the CAAM.
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas biggest auto show opens Arab Today, arab today chinas biggest auto show opens

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas biggest auto show opens Arab Today, arab today chinas biggest auto show opens

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday