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Chinese carmakers made headlines at the Detroit Motor show which drew to a close on Jan. 25, in stark contrast to the city's Big Three GM, Ford and Chrysler, to say nothing of Korea's Ssangyong.
China is now the world's third-largest manufacturer of automobiles. Data compiled by the International Organization of Motor Vehicle Manufacturers and the China Association of Automobile Manufacturers shows China produced 9.34 million automobiles last year, taking third place after Japan (11.5 million) and the United States (10.7 million). It raced ahead of automotive powerhouse Germany a long time ago in terms of output and manufactures more than twice as many cars as Korea, which is ranked fifth.
There are 19 major Chinese manufacturers of finished automobiles, and including minor producers the number rises to 130. And the Chinese market for automobiles is growing by the day. Last year, 9.38 million automobiles were sold in China, including 5.04 million passenger cars.
What is especially impressive is the growth of domestic Chinese automakers that have not formed joint ventures with foreign manufacturers. These sold 1.3 million cars last year, accounting for 26 percent of the Chinese market.
And a CAAM study shows China in fifth place in the world in terms of the number of registered vehicles but still in its infancy in terms of supply, boiling down to just one car for every 33 people.
Despite the sheer size of potential sales, it is impossible for foreign carmakers to enter the market independently because the government only allows joint ventures or tie-ups, as part of its goal of acquiring advanced manufacturing know-how.
(englishnews@chosun.com )
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