Leading automakers gathered in Beijing Sunday for China s biggest car show, expressing confidence in the world s largest car market even though lacklustre economic growth and environmental restrictions have generated uncertainty.
German car maker Audi plans around 10 new launches in India this year
A Rolls Royce on display at the China Auto show.
South Korea s largest automaker Hyundai Motor also announced in March it was planning a fourth plant in the country.
Further underscoring China s significance in the car market, French auto giant Peugeot Citroen agreed earlier this year to hand over part-control to Dongfeng and the French state.
Honda's Asimo robot holds its hands upward while surrounded by the media at the New York International Auto Show.
Jeep used by revellers. (Photo: DC)
Karsten Engel, president and CEO of BMW s operations in China, said Sunday the German automaker was introducing 10 new models to China this year, and carrying out more manufacturing and research and development inside the country.
Ford has opened three plants in China since 2012, with four more under construction, Mulally said, adding: "This is part of our biggest global manufacturing expansion in 50 years".
Beijing has indicated a willingness to accept weaker growth as it tries to move the economy away from investment and toward domestic consumption. Despite the concerns, industry players and analysts say the China market s importance to global
China s car sales surged 13.9 percent to 21.98 million vehicles last year. But that growth hit a speed bump in March, slowing to a 6.6 percent year-on-year rise after reaching a record 17.8 percent high in January. China s economy has also turned in
The eastern city of Hangzhou, a popular tourist destination, last month became the sixth major Chinese city to implement such a restriction, with some estimates placing the limit at 80,000 car plates a year.
At Ford Motor s display president and CEO Alan Mulally rode onto the stage in a bright red Ford Mustang, the latest incarnation of the iconic brand which is celebrating its 50th year.
GM s China president Matt Tsien said that "we re very optimistic with regard to the overall progress in the market" even though the world s second-largest economy was entering a phase of "more modest growth".
"This is obviously an incredibly important market for General Motors," its president Dan Ammann told reporters, saying China since 2010 had been the US automaker s largest market which now accounted for a third of total volume.
General Motors, Toyota, Volkswagen and Hyundai are among the global manufacturers on the list of attendees, along with SAIC and Dongfeng, China s number one and two domestic automakers.
Spectators and journalists crowded around displays at the Beijing International Automotive Exhibition, which features more than 1,100 vehicles and opens to the public on Monday, while female models drew the attention of photographers.