Tim Wright, Editor03.15.10
The global recession that is severely impacting North America and Western Europe is not affecting China's economy so harshly. While slowing its pace of development, it started to warm up in the second half of 2009 when the housing market and infrastructure constructions revived, along with increased demand in the automotive market. As a result, automotive coatings manufacturers are benefiting from the revived demand as strong car sales are driving an increase in project volume and spurring investment in the region despite tough financial times.
China's 2009 vehicle sales rose 46 percent making it the world's largest auto market, a title held by the U.S. since the Model T Ford went into production a century ago. The nation's vehicle sales rose to 13.6 million units, according to the China Association of Automobile Manufacturers. In the U.S., sales slumped 21 percent to 10.4 million vehicles, the fewest since 1982, according to Autodata Corp.
This year the trend of China's emerging dominance continues. In January its monthly auto sales overtook the U.S. for the first time. China's ascent in the global auto market has been hastened
China's 2009 vehicle sales rose 46 percent making it the world's largest auto market, a title held by the U.S. since the Model T Ford went into production a century ago. The nation's vehicle sales rose to 13.6 million units, according to the China Association of Automobile Manufacturers. In the U.S., sales slumped 21 percent to 10.4 million vehicles, the fewest since 1982, according to Autodata Corp.
This year the trend of China's emerging dominance continues. In January its monthly auto sales overtook the U.S. for the first time. China's ascent in the global auto market has been hastened
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