As per latest reports, China may fabricate more cars as compared to the European market in the existing year (2013).
This is for the first time in the record of the automobile business when Chinese auto makers will fabricate additional vehicles than Europe.
All told, car makers in the Chinese market are expected to fabricate approximately 19.6 million light cars in 2012 as against the 18.3 million proposed to be constructed in the European market during the year.
The facts originate from figures accumulated from 5 market analysts by Financial Times, comprising LMC Auto, IHS, as well as PwC consultancies.
The other two comprise UBS and Credit Suisse banking institutions. As the statement emphasizes, Europe’s figures consist of nations such as Turkey and Russia.
Those countries will assist push Europe to fabricate approximately 20% of cars made all over the globe, down from 35% in the year 2001 and 50% in the year 1970.
In the meantime, China carries on basking a production boom, with the nation likely to make 10 times the number of cars it did in the year 2000. In the year 2013, the Chinese market is anticipated to account for 23.8% of worldwide light vehicle fabrication.