The Shanghai Auto Show will kick off in two days time. The event, which is held every two years, has grown to become the biggest in Asia. Analysts say it will keep growing as the Chinese market continues to develop. China is already the largest auto market in the world. from Shanghai.
With the city preparing for the auto show at the Shanghai New International Expo Center in Pudong, some 400 auto industry leaders from 41 countries and regions are gathering in town to discuss the future of China's car making industry. One participant says this year's Shanghai auto exhibition is 2.5 times bigger than the Tokyo Motor Show.
Toyokazu Ishida, Director General, Tokyo Motor Show Office, said.
About 10 years ago, the Tokyo Motor Show is the only international show in the Asia Market. However, as the auto market in China has grown as the world No.1 market, the position of the Tokyo Motor Show is a little bit downgraded. However, we are now trying to upgrade the position of our show. So that's why I'm here to see how the Auto Shanghai is organized.
Many people taking part in the summit say they are confident the country will remain the world's largest vehicle market.
Wu Congjiang, Director, Deloitte China Auto Practice, said, "Despite the sluggish economy, the air pollution and traffic concerns, China's car-making industry will continue to grow with the increase of people's income. Actually, many Chinese rush to buy cars right after buying real estate. And some car buyers don't even have real estate. That is the Chinese dream as the Americans have the American Dream."
One British auto industry analyst says China's auto industry, is thriving now, but will have its ups and downs like any other industry