Industry executives at Beijing's bi- annual automotive show forecast another boom year in China this year, with sales in the world's No2 car market rising and production ramping up to take advantage of lower costs.
Global carmakers such as Volkswagen, General Motors and Ford are increasingly relying on emerging markets such as China to take up the slack as American and European consumers feel the pinch from slowing economies and rising prices.
"I say this internally all the time, but the company that gets China right is going to be the dominant player for the next 25 years," GM chief executive Rick Wagoner said at the Beijing International Automotive Exhibition.
GM expects total China sales to rise about 16 percent this year after climbing to 6.3 million in 2007.
Ford is considering a third assembly plant in China to meet demand just five years after entering the market, while Volkswagen expects to sell at least one million vehicles in China this year.
