China was considered to be the fastest growing automobile market in the world with sales growth rates of over 20 percent in the last three years. China would also be the first to rebound from the industry stagnation and maintain a steady growth rate. GF Securities expects market demand in the country to recover in the second quarter.

Klaus Maier, president and CEO, Mercedes-Benz (China) Ltd says "We continue to hold confidence towards the future of the Chinese auto market. In 2009, Mercedes-Benz will bring an increasingly variant brand experience for Chinese customers through a more diversified product line, caring services and rich brand connotations." Kenneth Hsu, spokesman for Ford China, said the US auto giant's financial woes in its home country would in no way derail their expansion plans in China. "We will continue to introduce new products and invest more in China with profits from our local operations," Hsu said.

The financial crisis and slowdown of China's auto industry won't make automakers reduce production or sales in China. Instead, they are considering to expand their product portfolio in China.

Source : english.chinabuses.com

Editor : Frederick

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Tags: Automakers Confidence Chinese Market