China automakers face tou
SHANGHAI, Jan 4 (Reuters) canada goose uk outlet Chinese automakers are gearing up to tackle tough foreign markets, after a landmark 2009 when they zoomed on to the global stage with several deals and Canada Goose Parka their home market overtook the United States as the world largest.
Figures due later this week are expected to show canada goose black friday sale China auto sales soared 44 percent to 13.5 million units in 2009, according to the average forecast of five canada goose coats analysts polled by Reuters. Power Asia Pacific division. sales data PREVIEW, see [ID:nN31245413]
The huge jump for China came as Beijing rolled out a number of incentives to boost sales Canada Goose sale as part of its 4 trillion yuan ($586 billion) stimulus package during the global downturn.
The year saw a trio of obscure Chinese names Zhejiang canada goose clearance sale Geely Holding Group, Beijing Automotive Industry https://www.canadagoosetomall.com Holding Co cheap Canada Goose (BAIC) and Sichuan Tengzhong Heavy Industrial, make moves to buy all or parts of storied global brands Volvo, Saab and Hummer.
But now comes the hard part, as Chinese automakers try to turn around canada goose uk shop their loss making purchases as they canada goose factory sale move into unfamiliar foreign markets, even as growth in their overcrowded home market slows.
is really an Black Friday Canada Goose sale extraordinary year for Chinese automakers, but they still have a long way to go to become a truly global player, cheap canada goose uk said Boni buy canada goose jacket cheap Sa, buy canada goose jacket an analyst with industry consultancy CSM Worldwide.
OUTLOOK SOLID On the home front, the scale back of aggressive canadian goose jacket tax cuts that fuelled last year explosive growth could slow growth at uk canada goose outlet some companies, canada goose uk black friday even as industry watchers stay sanguine on the broader outlook. [ID:nTOE58909L]
are not covered by the stimulus Canada Goose Outlet measures. But our sales are very good this year because market sentiment has been strong, said Klaus Maier, president and CEO of Mercedes Benz China operations.
Other executives and observers say they expect the market to return to a uk canada goose normal but solid growth rate of 10 15 percent in 2010 given the much larger comparative basis in canada goose clearance 2009.
OWN BRANDS Chinese companies are looking to use their new leverage to develop Canada Goose online their own brands, which they hope soon to export.
SAIC has made initial success of its own brand cars, and BAIC wants to quickly integrate designs it acquired from Saab late last year into its own cars, with some of those potentially for export. [ID:nTOE5BT05H]
But the road to global markets could be bumpy, Canada Goose Jackets as Canada Goose Online most Chinese cars are still perceived as cheap and basic.
Even at home, domestic canada goose store brands accounted for less than a third of cars sold in January November, and the ratio would be substantially lower without government incentives that favour such cars, analysts said.
The companies are hoping to change that in part by drawing on the technology and sales channels acquired during the recent acquisition spree that has made global headlines.
With its darkhorse purchase of GM iconic Hummer brand nearly complete, Tengzhong, an obscure machinery maker unknown canada goose even to it domestic peers, will have to figure out what to do Canada Goose Coats On Sale with the loss making company.
acquisitions have raised the profile of China Inc. But how to turn around the models and make them competitive at home and overseas is no easy task, Zhang Xin, an analyst with Guotai Junan Securities.
challenge for Geely is even bigger as it wants the entire Volvo operations, not just bits and pieces like BAIC. Things could turn out to be very canada goose coats on sale complicated. (Additional reporting by Kevin Krolicki in DETROIT; Editing by Doug Young and Lincoln Feast).