VOICING confidence in China's car market global automakers have driven their green cars and new models to the annual Guangzhou auto show.
More than 900 vehicles are exhibited at the show, officially known as the 9th China (Guangzhou) International Automobile Exhibition. They include 30 making their world debut and 13 their Asia introduction. Luxury car brands, including Ferrari, Mercedes-Benz and Porsche, displayed their latest expensive and stunning models to lure the country's growing population of wealthy despite the overall market losing some steam after two straight years of rapid growth.
Kevin Wale, president of General Motors China, said the country's overall auto market, which includes commercial vehicles and passenger cars, will grow 7-10 percent next year from 3-5 percent this year.
In an interview citing fast economic growth, low car ownership, and people's desire to own a car, Wale said the market is "on a bottom of a growth curve. We still think the trend of growth in the Chinese market is still very strong."
Mercedes-Benz has an impressive display of 33 models from its four marques of Mercedes-Benz, smart, AMG and Maybach. Among the highlights are the smart forvision concept as well as key Mercedes-Benz models, including the all-new CLS-Class and the all-new SLK roadster.
Klaus Maier, president and CEO of Mercedes-Benz China, expects the overall Chinese auto market to grow between 5 and 10 percent next year, with the premium car segment to expand even faster.
Toyota Motor Corp, which has been affected by the earthquake in Japan in March, said it is on track to achieve its China sales target of 900,000 vehicles set at the start of the year, according to Shinji Kitada, president of Toyota Motor (China) Investment Co, after unveiling the third generation of the Prius hybrid car at the show yesterday.
Most automakers are again adopting the key theme of fuel efficiency as they unveiled hybrid and electric vehicles.
GM has officially launched its Chevrolet Volt plug-in hybrid in China that sells at 498,000 yuan (US$78,385). Volkswagen said it will build electric vehicles in China from 2013.
"Governments in China and Europe are getting more realistic that electric vehicles could quickly replace internal-combustion engines though EVs need some time to develop," Karl-Thomas Neumann, president and CEO for Volkswagen's China, said after unveiling the new imported VW Sharan multi-purpose vehicle at the show.
Ford announced that it will upgrade its entire powertrain portfolio in China by bringing 20 advanced engines and transmissions to support its aggressive plan to introduce 15 new vehicles to China by 2015. The smallest of Ford's EcoBoost engine family, the all-new 1.0-liter EcoBoost direct-injection turbocharging gasoline engine, will be made in China.
On its home turf, Guangzhou Automobile Industry Group debuted its self-branded Trumpchi SUV while the FAW Group, based in Jilin Province in the northeast, unveiled its Oley passenger car that will start selling in March next year.
Great Wall Motor Co Ltd launched the Voleex C50 sedan which is equipped with the nation's first 1.5-liter turbo engine that was developed by the car maker.