China Set to Make More Cars Than Europe in 2013
China is forecasted to manufacture 19.6 million cars and other light vehicles in 2013 compared to 18.3 million in Europe.
The projections for Europe include countries such as Russia and Turkey apart from the European Union.
In 2012, Europe produced 18.9 million cars and related vehicles, while China made 17.8 million. Global car sales are valued at about $1.3tn a year. According to the projections, car manufacturing in China in 2013 is anticipated to be 10 times higher than in 2000.
Since the 2008-09 economic downturn, the European car companies saw decline in production as they found severe difficulties to produce, sell and market.
– The New Statesman