China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (1044)	10/20/2003 11:25:31 AM
From: RealMuLan	Read Replies (1) of 6370

Auto giants see robust demand in China October 20, 2003 By AFP Tokyo - Global auto giants including Toyota, Honda and Volkswagen are forecasting robust demand in China, the world's fastest growing auto market, spurred by rising incomes among young and rich Chinese entrepreneurs, auto executives said Monday. "China's auto market keeps growing and by 2010 it will rise to eight million to 10 million units," said Akira Sasaki, managing director of Toyota, speaking at the Tokyo International Automotive Conference ahead of the start of the Tokyo Motor Show later this week. "By 2010, Toyota will likely produce more cars abroad than at home and we will surely expand our production in China," Sasaki said. Japan's top automaker is a late entrant to China as it set up a joint venture only last year with local giant First Automotive Works (FAW) to manufacture up to 400 000 vehicles a year. "Unfortunately, we were late in entering the Chinese market and our current market share is less than two percent. But by 2010, we would like to achieve 10 percent," Sasaki said. busrep.co.za

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