Cars
FACTBOX - China overtakes US as world's No 1 auto market
(Agencies)
Updated: 2010-04-22 13:32
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BEIJING: China's auto market, which overtook the United States as the world's largest last year thanks to a raft of policy incentives, has been a major bright spot amid a global industry downturn.
Automakers around the world are showing off their latest products and technology that cater to the need of customers in China at the Beijing Auto Show, which opens this week.
Following are some key facts about China's auto industry.
2009 car sales
In 2009, a total of 10.3 million passenger cars were sold in the country, up 52.9 percent from a year earlier, data provided by the China Association of Automobile Manufacturers showed.
Overall vehicle sales in the country came to a record 13.6 million units in 2009, well above the country's previous target of 10 million units.
Sales of domestic branded models accounted for roughly 30 percent of total passenger vehicle sales during the period. The remainder are either made by joint ventures between foreign firms and their Chinese partners, or imported from overseas.
Market leaders
SAIC-GM-Wuling led the market with 976,800 vehicles sold in 2009. The firm is a joint venture between General Motors, SAIC Motor Corp, China's largest car maker, and Liuzhou Wuling Automobile.
Shanghai Volkswagen, a joint venture between Volkswagen AG and SAIC, followed with total sales of 728,200 units.
Shanghai GM, General Motors' joint venture with SAIC sold 708,400 units during the year, ranking third.
BYD's F3 sedan was the bestselling car in China for the year. The Shenzhen-based battery and car maker, which is 10 percent owned by Warren Buffett's Berkshire Hathaway sold 291,000 units of F3 in the period.
A total of 241,100 units of Buick Excelle were sold by Shanghai GM, making it the champion among foreign brands.
The cheapest model
QQ, a compact sedan made by Chery Automobile, China's largest indigenous car maker, sells for 33,800 yuan for its basic 0.8-Litre model.
