Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

New car models shine at Shanghai despite slowdown signs

New car models shine at Shanghai despite slowdown signs
Euronews logo
Text size Aa Aa

The world’s carmarkers are continuing to beat a path to China, the largest market on the planet.

Sales have been pinched by the biggest economic slowdown in a quarter of a century but the industry’s market leaders show no sign of letting up on their investment or expansion plans.

Last year some 23.5 million cars were sold in China as demand for new models surges. Forecasts for next year predict modest growth of seven percent.

But as the market is split between domestic and international manufacturers many foreign makers who are outperforming say they are unconcerned by slowdown signs.

According to one study last year China accounted for more than half the total industry spending on new or expanded capacity, with plant investments worth nearly 13-billion euros.