![]() The results were significant: Vehicle sales increased 45 percent in 2009 and 32 percent in 2010,” the study said. “After the global financial crisis, the government approved the Adjustment and Revitalization Plan for Automobile Industry that was in force between 20. However, input from the Chinese government has also played a key role, according to a 2014 industry report jointly conducted by CEDARS (a consulting company in Chinese automotive industry), China Europe International Business School (CEIBS), and IESE Business School. GDP growth and the emerging middle class are two important factors boosting this sector in China. During the exhibition, other large transnational firms followed suit by introducing their latest innovations, so revealing their confidence in the Chinese market’s potential. In 2014, German automaker Volkswagen chose the Beijing Auto Show as the ideal opportunity to present its Hover Car, a two-seater disc-shaped pod that “levitates” a few centimeters above the ground. Last year, at 24.6 million, car sales in China reached a record high, according to the Chinese Association of Automobile Manufacturers (CAAM).īaidu, China’s largest search engine, launches a fully autonomous test on mixed roads for its self-driving car. In 2013, it produced and sold 22 million, more than the combined total for the United States and Japan, countries that follow China on the global auto industry podium. In 1999, the country produced less than two million vehicles. However, during these three decades the Chinese car market has grown exponentially. Just 30 years ago, there were more bikes in Beijing than cars. THE development of electric cars, the growing demand for sophisticated sports cars, and the synergy between Internet companies and traditional automakers form the landscape of this promising industry.
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