Cars sales in China may be off, sitting well below the 7% growth predicted by the China Association of Automobile Manufacturers (CAAM), but Western car companies are committed. They are building capacity that will allow them to produce millions more cars in the next four years.
Lower sales are surely a reflection of China’s slower economy. But slow is relative. Even at current growth rates China has the one of the fastest growing economies in the world and that is why these companies drive on with plant investments worth $12.7 billion, according to an annual Canadian study of automakers’ outlays. Source: Reuters