• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Fairtheworld Comments on Auto Industry: China's Automobile Enterprises Are Expanding Amidst an Adverse Market Under the Economic Crisis

Posted on: Saturday, 4 July 2009, 08:00 CDT

HONG KONG, July 4 /PRNewswire-Asia/ -- The bankruptcy of Chrysler and GM has shocked the entire auto industry chain in America. The falling of giants has set off a chain of bankruptcies of related enterprises on the up and down-stream. Auto-part makers, such as Hayes Lemmerz, the world-famous maker of automobile wheels and braking systems, and Lear, the world's biggest auto-seat maker, are dying off. The U.S. auto industry is on the verge of a complete collapse.

While on the other hand, China's auto market is taking on a completely different look. According to statistics in the first quarter of 2009, sales in China's auto market surpassed that of the U.S. market for the first time. The whole auto market is growing rapidly, with an expected 18% increase. China's automobile enterprises have withstood the impact of financial crisis, thanks to its domestic market. Holding in hand a robustly growing domestic market, these enterprises are marching into the North American auto industries with a rich financial basis, and are acquiring automobile companies there as well as up and down-stream auto-part makers at a very low price.

According to statistics collected by Fairtheworld.com, a handful of consulting companies are now playing an active role between Chinese and U.S. automobile companies, aimed at finding Chinese buyers for those mired American automakers and auto-part makers. This cross-board acquisition move is epitomized by the recent hot-topic of China's Sichuan Tengzhong Heavy Industrial Machinery Company buying GM's Hummer Brand.

In response to the latest trend in the international auto industry, Fairtheworld.com has specially designed an Automobile Hall and opened it in its "Fair N Fair" 3D Virtual Expo, which is a global e-commerce platform. Various automobile enterprises are to be arranged at different floors for exhibition according to their characteristics on the industry chain. While the U.S. auto companies, at this critical juncture, can talk business with thousands of high-end auto enterprises around the globe by entering "Fair N Fair", so as to achieve high-efficient and cost-effective cooperation.

For more information, please contact: Dodona Song Cell: +86-159-1626-1151 Email: news@fairtheworld.com

SOURCE Fairtheworld

Source: PR Newswire

More News in this Category