Chinese auto makers added the capacity by 30 percent to 20 million units in 2009
Fuel-efficient cars have already shown some signs of overheating, as the demand for auto with displacement less than 1.6 liters was about 3 million units before 2011, less than half of the capacity of 7 million units, said Jia Xinguang, auto industry analyst.
The China Association of Automobile Manufacturers (CAAM) announced annual sales rose 46.15 percent year on year to 13.64 million units (in 2009). Output increased 48.3 percent to 13.79 million units.
Rural consumers got up to 5,000 yuan (735 U.S. dollars) in government subsidies for vehicles with a displacement under 1.3 liters.
The three top-selling brands last year were Shanghai Volkswagen, FAW Volkswagen and Shanghai General Motors — all joint venture brands between Chinese auto makers and the German or U.S. counterparts.
China’s passenger car sales were up 52.93 percent to 10.33 million units, and production was 10.38 million units, up 54.11 percent year on year.
The brisk sales in China is in contrast with the United States where 10.43 million units were sold last year, 2.8 million units less than in 2008, as the global financial crisis kept U.S. consumers out of the showroom.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
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He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.