Growth speed of Chinese auto market apparently declined since the second half of this year and auto consumption zeal cooled off. However, multinational auto giants who attended the opening ceremony of international auto show held in Guangzhou on November 19 remained buoyant about Chinese auto market and kept cautious optimism to next year’s auto market.
Affected by the global financial turmoil, sales of major auto markets including Europe and America and Japan declined sharply, which also triggered the global auto markets such emerging markets as China, Brazil and Russia into recession.
At present, multinational auto companies including GM, Ford, Toyota, Volkswagen and Honda all established joint ventures in China to manufacture and sell autos. Comparing with the plummeting sales performances and negative growth of European and Japanese auto markets, performances of the multinational auto companies all kept a certain growth this year, among which growth rates of Honda, Volkswagen and Mazda are higher than the average growth level of Chinese auto market. They proactively participated in Guangzhou auto show to release a large batch of wholly new auto modes and new energies.