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China to produce more cars than Europe in 2013: Report

Source : ANI
Last Updated: Wed, Jan 02, 2013 10:50 hrs

China is expected to produce more number of cars than Europe in 2013 for the first time, according to a report.

Projections prepared for the Financial Times by five forecasting groups, showed that China is in 2013 set to make 19.6 million cars and other light vehicles such as small trucks compared with 18.3 million in Europe.

Europe include not just the European Union, but other nations such as Russia and Turkey, CNN reports.

In 2012, on the basis of motor industry estimates, Europe made 18.9 million cars and related vehicles, comfortably ahead of China's tally of 17.8 million.

The projections are based on data from the IHS, LMC Auto and PwC consultancies together with investment banks UBS and Credit Suisse.

According to the data, Europe in 2013 will make just over a fifth of the world's cars, a figure that is well down on the 35 per cent it recorded in 2001.

Car production in China in 2013 is likely to be 10 times higher than in 2000, when its share of global auto manufacturing was just 3.5 per cent as opposed to a likely 23.8 per cent in 2013, the report said. (ANI)



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