2009 might very well have been an inflection point in the global economy. It is the first time in history a nation beat the US in annual auto sales. And that nation is China. 13.6MM for China vs 10.4MM for the US. There might be volatility in the years ahead; the Chinese real estate boom might go bust; and the US might very well overtake China once again; but 2009 announces the true arrival of China in the global economic order.
Expect to see a lot of China-related action in 2010. Not just in the auto sector; but across industries. Time for businesses to sharpen their focus on China.
(btw, India sold 1.4MM autos in 2009)
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