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Autos Steep Grade Ahead Robyn Meredith, 06.01.05, 12:18 PM ET ... China, land of bicycles, has for a few years been the unexpected savior of some of the world`s largest most-troubled automakers. As the Chinese market soared in recent years, it overtook Germany as the world`s second-largest auto market, boosting the financial results of early entrants such as General Motors (nyse) and Volkswagen. Now, just when GM and VW find their global operations struggling the most, their China-market profit train has all but disappeared. GM still earns more money selling cars in Communist China than it does in the U.S.--a market more than three times larger. GM had a 5% market share in 2000 and hit 10% last year in China. German giant VW saw its market share in China sink from a near-monopoly of over 80% in the 1990s to 27% last year as GM and most other automakers piled in. But in April, just as GM reported dismal first-quarter earnings, it became clear that the newfound China market would no longer bail out the company. GM reported its China earnings were $33 million, down from $162 million the same time last year. Still. GM executives and independent analysts predict the China auto market will grow 10% this year after a government-induced slowdown last year. "I see lots of growth potential in China," GM Vice Chairman Bob Lutz said in Shanghai. ... GM counts 150 million Chinese with incomes of at least $3,000 a year--a car-affordability threshold. Sales are zooming, but minicars carry "margins that are closer to wood shavings than anything you can put in your pocket," Dunne says. http://www.forbes.com/business/2005/06/01/cz_rm_0601chinaaut… |
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| aus der Diskussion: | Die Aktie, die noch keiner haben will |
| Autor (Datum des Eintrages): | peter.wedemeier1 (02.06.05 10:29:04) |
| Beitrag: | 114 von 237 (ID:16776314) |
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