Since November 2009, China has been termed as the biggest automobile market in the world. During 1992,China’s production of automobiles exceeded one million and by the year 2000, the figure doubled. The figure increased once China entered the World Trade Organization (WTO) during 2001.
This caused a shooting increase in China’s national automobile market by 21% and by 2007 China was producing around seven million vehicles in a year. The figure increased with two folds each year until 2009,China produced 13.759 vehicles, moving ahead ofJapanas the largest automobile maker in the world (Watts, 2009). The Mckinsey & Company consultantcy has quoted via research thatChina’s automobile market will grow tenfold between the years 2005 and 2030 (McKinsey & Company, 2002).
These are excerpts of essays please place order for custom essay paper, term papers, research papers, thesis, dissertation, book reports and case studies.