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According to foreign reports, in 2013 China's auto production will exceed Europe for the first time, reaching a milestone on the road to the rise of the auto industry, but also highlights the difficulties faced by the European auto sector in the coming year.
According to the â€œFinancial Timesâ€ report, data from five forecasting groups show that China will produce 19.6 million light vehicles such as cars and other small trucks in 2013, and 18.3 million vehicles in Europe. Considering that Europe includes not only EU countries, but also countries such as Russia and Turkey, the rise of China is even more shocking.
In 2012, based on estimates from the automotive manufacturing industry, Europe produced a total of 18.9 million cars and related vehicles, more than China's 17.8 million more than enough.
This expectation is based on data from IHS, LMC Auto, PricewaterhouseCoopers and investment banks UBS and Credit Suisse. According to the picture they depicted, the world auto industry will only recover slightly in 2013. The output will increase by 2.2%, which is 4.9% compared to 2012.
The global sales of the auto industry is about 1.3 trillion US dollars annually, which is one of the main leaders of the world economy. According to the data, the proportion of auto production in Europe in 2013 accounts for only a little over one-fifth of global production, which is a far cry from the 35% share in 2001. In 1970, almost one of the two cars in the world was produced in Europe.
China's auto production in 2013 will exceed 10 times that of 2000, when Chinaâ€™s share of global auto production was only 3.5%, which is in stark contrast to the 23.8% expected in 2013.
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