View from China: bumpy road for carmakers

Buying a car has traditionally been out of reach for most people in China. But now, with the government and domestic manufacturers determined to turn the industry around, this may be about to change.

StockHouse LogoIn true Chinese fashion, 2001 has been touted a hot year for car consumption. Beijing has pledged to introduce various measures to help private individuals buy cars. Domestic carmakers have launched numerous new models while setting higher sales targets and the state-controlled media is playing to the tune of the Central governments push.

Beneath the fanfare and driving the governments intentions is the aim of shaking up a chaotic and unprofitable car industry. But it may be a rough ride for all parties.

Look at the roads in Chinas biggest cities. The majority of cars are company-owned, or taxis and there is a limit to the size of these sectors,...

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