CHINA is crucial to foreign carmakers as the world’s biggest auto market Cheap Los Angeles Rams Jerseys , but slowing economic growth and a corruption crackdown are denting its appeal as they gather for the country’s premier industry show.
The Shanghai auto show — the location alternates with Beijing — opens on Monday and provides a chance for global automobile manufacturers to show off their latest offerings to the massive market.
Vehicle sales in China reached 23.49 million last year, well ahead of the United States, which it overtook in 2009.
But annual sales growth halved to 6.9 percent last year from 13.9 percent in 2013, according to the China Association of Automobile Manufacturers. The slowdown continued in the first three months of this year, when sales rose just 3.9 percent.
“The reality is Derek Carrier Rams Jersey , despite lower growth rates... the numbers in China are still the largest in the world,” said London-based principal analyst for IHS Automotive, Namrita Chow.
“It’s still a big market for automakers to fight for market share.”
The downturn comes as growth in China is faltering. It expanded by an annual rate of 7 percent in the first quarter, the lowest level since 2009 at the height of the global financial crisis.
At the same time, Chinese cities are slapping limits on the number of vehicles as heavy pollution and traffic-choked roads spark calls for change.
The southern boomtown of Shenzhen became the latest to impose such measures in December Ethan Westbrooks Rams Jersey , bringing the total number of cities to at least seven, but carmakers expect more to follow.
A corruption crackdown and government austerity drive are also hurting the “premium” market — defined by analysts as vehicles costing from US$33,000 to US$197,000 — as well as rarefied luxury brands with even higher prices.
“The whole corruption crackdown is affecting premium products,” said Chow of IHS. “We’re seeing a greater proportion of local brand vehicles being favoured by government and government-affiliated institutions.”
The anti-graft drive has also snared auto industry officials including the former top executive of China’s third-biggest car company John Sullivan Rams Jersey , FAW Group, which has a joint venture with Germany’s Volkswagen.
But foreign companies cannot afford to ignore China’s market, particularly as Europe is still struggling to recover from a six-year slump brought on by the global financial crisis.
Rising incomes and a low percentage of car ownership also point to the potential for further sales growth.
Chinese consumers are evolving, embracing auto financing instead of cash deals and fostering a growing market for second-hand vehicles instead of buying the newest models.
The auto show is evolving too. This year, for the first time Tyrunn Walker Rams Jersey , it will not include scantily-clad models.
On show instead will be a range of SUVs, whose image in China as a roomy family car rather than a fuel-guzzling giant helped drive a 48.8 percent surge year on year in the first quarter, according to industry group CAAM.
Ahead of the show, US auto giant General Motors launched a new SUV in China, the Buick Envision 20T.
KANDAHAR Kayvon Webster Rams Jersey , Afghanistan, April 30 (Xinhua) -- One police personnel was injured Thursday morning after a suicide car bombing shocked Daman district of Kandahar province in southern Afghanistan, with the attacker killed on the spot, an official source said.
"One militant driving a car bomb tried to enter a security checkpoint at around 11:00 a.m. (local time). The attacker set off the car bomb shortly after police stopped him near the checkpost," Samim Khpalwak Nickell Robey-Coleman Rams Jersey , provincial government spokesman, told Xinhua.
Kandahar is the birthplace of the Taliban, which has claimed responsibility for the attack.
The Taliban has intensified attacks over the past couple of months as the Afghan security forces assumed the full security responsibility from NATO-led troops since Jan. 1 this year.
Earlier on Thursday, seven people, including two policemen Andrew Whitworth Rams Jersey , were injured when a bomb attached to a bicycle went off in Kunduz city, the capital of northern Kunduz province while eight militants were killed and seven others wounded when the Taliban attacked security posts in neighboring Jawzjan province overnight Wednesday, according to officials.
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