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China To Lead Auto Production
Financial Times is reporting that China will assemble approximately 19.6 million vehicles in 2013. With these kind of numbers China is on track to overtake Europe (including Russia and Turkey) who are slated to build just 18.3 million vehicles.
In recent times there has been a considerable drop in production number from Europe's end. Back in 2001, Europe contributed to 35% of the world's automobiles and in 2013 Europe is expected to contribute roughly 20% of the world's automobiles.
If we dig deeper into this drop in production, European automakers such as Ford and Opel pop-up. Recently these European automakers announced plans to reduce their outputs and a shutdown of a few production units. The European market is currently on a tightrope and this concern has even worked up Volvo chief executive Håkan Samuelsson to say "you can only pray" for the European market.
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