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Car Manufacturers Have Hopes For The Recovery In China
In the global corona crisis, German and international car manufacturers have high hopes for the recovery in China.
Yazar: Tom Roberts
Yayınlanma: 26 Eylül 2020 23:14
Güncellenme: 7 Kasım 2024 09:50
Car Manufacturers Have Hopes For The Recovery In China
In the global corona crisis, international car manufacturers have high hopes for the recovery in China. At the start of the international motor show in Beijing, experts predicted further growth in the world's largest car market in China by the end of the year and also next year. While business has plummeted worldwide, China is still growing in importance. It has been described as an "essential buttress" or "lifeline". "Auto China 2020" is the industry's first major international exhibition for more than half a year. Since China has the corona virus largely under control and has barely counted local infections for a long time, the exhibition, which was initially postponed in spring, could be rescheduled. In previous years, the annual fair, which takes place alternately in Shanghai and Beijing and is one of the largest in the automotive industry, has attracted millions of visitors.For fear of the introduction of the virus, strict restrictions on entry and two weeks of quarantine still apply in China. There are also few flights to China. "I expect very good sales in the second half of the year," said Cui Dongshu of China's Passenger Car Association. After the sharp slump due to the pandemic in the first half of the year, the expected decline for the entire year will be reduced to a minus of only five to eight percent.
Despite all the uncertainties, the expert is expecting an increase of eight percent in the coming year. Other experts also expect an increase of five to seven percent. "Without China, the German auto industry would hardly be recognizable," said Ferdinand Dudenhöffer from the Center for Automotive Research in Duisburg. Mercedes suffered a global decline of 20 percent in the second quarter, but sales in China increased by 22 percent, the expert explained the situation. At BMW it looked "even more blatant": a global slump of 25 percent was offset by an increase of 17 percent in China in the second quarter.
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