News stories reporting U.S. auto sales for August indicated that a total of 1.19 million cars, trucks and sport utility vehicles were sold in the United States, a 13% increase from August of 2011, and the highest sales rate in four years.
But the real auto industry story should be about China. The China Passenger Car Association has published data indicating that 18.5 million vehicles were sold in China in 2011.
The Association also projected sales of 20 million vehicles for this year.
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China continues to be the world's largest auto market. Confirming the size and importance of the China auto market, General Motors' (GM) Chief Executive, Dan Akerson, stated that China's auto market will reach 30 million annual vehicle sales by the year 2020.
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A slowdown in Chinese economic activity is continuing to be led by a decrease in exports, primarily to the U.S. and Europe. China's manufacturing has now contracted for 11 consecutive months.
China's auto industry, including the entire automobile supply chain, has definitely been impacted by the country's economic slowdown.
Read More: http://seekingalpha.com/article/909681-it-s-time-to-take-a-fresh-look-at-china-s-auto-industry
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