China will surpass this year the Europe cars production
China will produce this year, for the first time, more cars than Europe, a situation which highlights the rise of Asian countries in the automotive sector, while the European market encounters difficulties, according to the Financial Times.
Autotusime production of China and other light vehicles such as trucks, will amount this year to 19.6 million units compared to 18.3 million in Europe, according to forecasts made by five research companies.
China’s rise is even more impressive given that Europe includes in to the European Union, countries like Russia and Turkey.
In 2012, according to estimates from the automotive sector, Europe has produced 18.9 million cars and other vehicles in this category, compared to 17.8 million in China.
Financial Times projections are based on data provided by IHS consulting firms, LMC Automotive and PwC, and divisions of UBS and Credit Suisse.
Global car market, estimated at 1,300 billion dollars annually, will recover only slightly in 2013, with an advance of only 2.2%, compared with an increase of 4.9% in 2012.
This year, Europe produces only slightly more than a fifth of global cars, while in 2011 had a share of 35%. In the early ’70s, nearly one in two new cars worldwide came from Europe.
Meanwhile, in China,the production of cars for this year is estimated at 10 times the level in 2000, when the country’s share in global auto sector was only 3.5%.