George S. May Business Blog

Chinese markets on the up and up

After a 46 percent leap, China has overtaken the United States as the world’s largest auto market, a title that the  United States has held since the introduction of the Ford Model T. Car, bus, and truck sales blasted up to 13.6 million says the China Association of Automobile Manufacturers, while United States auto sales endured a 21 percent slump ending at 10.4 million, the lowest number since 1982. Expert analysts in the field likely weren’t taken by surprise, however, vehicle sales in China have been surging since 1999 at an average of 9 percent per year. Actually, since 1977 China’s vehicle ownership number has increased from 1 million to over 51 million. Along with the world’s largest car market, China holds the world’s largest markets for cell, phones, beer and microwave ovens.

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