Automakers Looking for a Steady Growth in Chinese Market in 2010

Global auto industry is currently going though a recovery phase after economic recession is over now. China is one of the fastest growing auto markets in the world and its government is now trying to make it world’s biggest auto market replacing US market. To make this happen, China has taken up some measures like government stimulus and cutting tax. Overall, it is expected that car market of China could see a 10 percent growth in 2010.

So, automakers, both global and local, are determined to grab a significant chunk of the market share next year. Due to economic recession, automakers had to go through a tough time and now they are looking to retain their market strength and return to profit again. Naturally, Chinese market has now become a lucrative destination for the car makers. Well, India also has a big auto market and Indian government should also try to attract the global auto makers by taking some measures.

Related article:
Reuters