According to European media Inautonews on October 20th, Wang Xia, president of the China International Trade Promotion Council's automotive industry branch, said that China's rapidly developing and highly competitive automotive industry should create at least three automakers that are competitive in the global market.
Wang Xia said that the rapid development of foreign auto brands has suppressed Chinese domestic automakers and seized the domestic market share. Two years ago, Chinese auto brands accounted for 46% of the world's largest auto market, and now 10% of foreign auto brands dominated by European manufacturers GM and Ford.
Wang Xia said during the Wuhan Global Automotive Forum in China that China's auto industry plays a role of “support and protection†for China and the global economy. With the continued expansion of the domestic automotive industry, there will be three local car companies expanding and becoming the world's leading car manufacturers.
American investor Jack who has worked in the Chinese automotive industry for 20 years? Jack Perkowski agreed. He pointed out that at least Geely and Great Wall two car companies have the most advantage to become the world's strong. Although they will take several years to enter the European and North American markets, they will soon begin to explore emerging markets.
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