CHINESE CARMAKERS ARE PREPARING TO SEEK THE ULTIMATE PRIZE, EUROPEAN MARKETS
July 1st, 2009
BY MARK GODFREY
ONE might wonder why Chinese car makers would want to go abroad: China's auto sales are up by as much as 40% in the first half of 2009 according to the National Bureau of Statistics here. Yet Chinese car firms have been gunning hard for sales in the UK and western Europe, both deemed as vital to global expansion plans developed by automakers BYD and Chery, explained Yale Zhang, a Beijing-based auto analyst at CLSA, an investment bank. "They know that if you put Russia, the Middle East and Latin America together they're still worth less than ...
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