The Change Mariner

Carmakers See Future in China

International Herald Tribune:

Canvass the top executives at the Frankfurt International Motor Show about what gives them hope for their industry's future, and the answer is the same: China.

With their home countries in the doldrums, and the outlook for 2004 scarcely better, the eyes of the world's automakers are fixed firmly on the Chinese market, where sales of cars and trucks are rocketing. "Growth in China is absolutely amazing," G. Richard Wagoner, the chairman of General Motors, said here Wednesday.

"The Volkswagen brand sold more vehicles during the first quarter of 2003 in China than they did in Germany," he said. "Last month, GM sold more vehicles in China than we did in Germany."