Page added on April 22, 2009
Bill Powell, at Time Magazine, captured up the mood at the Shanghai Auto Show this week brilliantly when he described Western car executives as “like drowning men grasping the only piece of buoyant driftwood in sight”.
China is the only major car market still growing in the world, and it could mean the difference between life or death for some of these companies.
There’s also been a lot of buzz that China is the place where electric cars will take off. Nick Reilly, the head of GM in Asia, said there was a “clear need” in Chinese cities for a small electrified car and that if the government handed out enough subsidies, “there could be very rapid sales growth”.
DailyTelegraph
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