China Poised to Overtake Europe as the World's Biggest Car Producer in 2013

|

Even if Europe wasn't experiencing economic and structural problems that have deeply affected the domestic car industry, it would only be a matter of time before China with its growing economy and massive population overtook the Old Continent as the world's biggest automotive producer.

However, with Europe in a deep recession, it's just going to happen faster than we thought.

In fact, according to projections made for the Financial Times by five forecasting groups, including IHS, LMC Auto and PwC consultancies along with investment banks UBS and Credit Suisse, China will produce more vehicles than Europe this year for the first time ever.

In particular, China is poised to manufacture around 19.6 million passenger and light commercial vehicles in 2013, while Europe around 18.3 million. That's compared to Europe's output of 18.9 million vehicles in 2012, and China's 17.8 million units for the same year.

What makes this forecast even more impressive is that Europe's numbers include output from other peripheral nations, such as Russia and Turkey, which are experiencing growth.

Nevertheless, one should also take into consideration that many of China's top producers are affiliated with European, American and Japanese carmakers like the VW Group, BMW, GM and Toyota.


PHOTO GALLERY

BAIC C60F 2Brilliance Great China II 1BYD Qin 2CH Auto Lithia 1CH Auto Lithia 3Changan CS35 1Changan CS35 2Chery Cowin 5 1Chery TX concept 1Chery Riich G2 3Daimler-BYD Denza 4Daimler-BYD Denza 6FAW Hongqi H7 1FAW Hongqi H7 3Geely Englon SC7-RS 2Geely Englon SC7-RS 1Geely Englon SC7-RV 1Geely Englon SX6 2Roewe 950 1Roewe 950 4Zotye Z300 1Zotye Z300 3Zotye Z600 1Zotye Z600 2